Best Buy may price its in-house tablet, the Insignia Flex, to be competitive with Amazon’s larger Kindle Fire.

Reuters, citing an unnamed “source familiar with the matter,” reported that the 9.7-inch tablet may sell for between $239 and $259 and could hit Best Buy stores exclusively starting Nov. 11.

That price puts it just below its nearest competitors in the tablet market. The 8.9-inch Kindle Fire tablet starts at $299; the 9-inch Nook Tablet from Barnes & Noble starts at $269.00. Apple’s iPad, which leads the tablet market, starts at $499.

The report comes just a week after the electronics retailer announced its tablet debut on Facebook under the company’s Insignia brand. The company already makes home audio equipment, televisions, digital picture frames and tablet accessories under the brand.

The Insignia Flex will run Google’s Android Ice Cream Sandwich — the second-latest version of the operating system — and will have a dual-core 1GHz processor. It also has a 10-hour battery life.

The company hasn’t released many specifics, but the details it has released don’t seem to present a very credible threat to the iPad or, really, even the Kindle Fire

All in all, the Flex seems to be a tablet aimed at consumers who want a larger tablet for browsing and reading, but not much more.

That makes the rumored price particularly curious, as the best strategy for Best Buy would be to head for the $200-and-under crowd. On the other hand, Best Buy certainly hasn’t shown that it has the content of an Apple, Amazon or even Barnes and Noble to offer to its customers, so it would have no clear way to turn a profit on a tablet if it sells the device at cost.

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