Nokia totally caught us all off guard today. The Finnish company unveiled a new consumer electronics gadget, an Android tablet, at a media event. The Nokia N1 is the company's first ever Android tablet. It will run on Android 5.0 Lollipop, the latest version of Android, and will cost just $249 upon arrival.

Other key specs of the Nokia N1 Android tablet include an 8 MP rear camera, 5 MP front camera, 32 GB internal storage, and Nokia Z Launcher as its default UI. The tablet is powered by a 64-bit Intel Atom Z3480 processor clocked at 2.4 GHz processor, has a 7.9-inch (2048 x 1536 pixel) high-resolution display, and weighs just over 300 grams. It's powered by a 5,300 mAh battery.

Nokia has made an all-aluminum slate that looks very similar (in terms of design language) to the iPad Mini. The Nokia N1, at 6.9mm, is slimmer than the iPad Mini with a 7.5mm waist.

The Nokia N1 will be released in China right in time for the Chinese New Year (February 2015). Availability in other regions will follow the launch in China.