Remember that price drop we showed you last week for the Galaxy Tab by Verizon Wireless? A recent press release gives the reason why: a new Galaxy Tab sporting LTE is on the way. That’s not all the new Tab is going to be getting though, also coming is a bump in the processing power to 1.2 GHz, and a bump in the rear camera to 5MP. Impressive specs for Verizon’s second announced LTE capable tablet. Mum’s the word on the release date, but you can bet we will keep you updated on any news that comes after today’s press release. Check out the full press release below.

VERIZON WIRELESS AND SAMSUNG MOBILE ANNOUNCES FIRST 4G LTE-ENABLED SAMSUNG GALAXY TAB™

New 4G LTE-Enabled Samsung Galaxy Tab™ Features Access to Verizon Wireless’ 4G LTE Mobile Broadband Network and 5 Megapixel Rear-Facing Camera

LAS VEGAS and BASKING RIDGE, N.J. – From the 2011 International Consumer Electronics Show (CES), Verizon Wireless and Samsung Telecommunications America (Samsung Mobile) today announced that a 4G LTE-enabled Samsung Galaxy Tab™ will be available on the Verizon Wireless 4G LTE Mobile Broadband network.

The 4G LTE-enabled Galaxy Tab features a 7-inch enhanced TFT display with 1024 x 600 WSVGA resolution, full support of Android™ 2.2 with access to Adobe® Flash® 10.1, 1.2GHz Cortex A8 Hummingbird application processor and access to more than 100,000 applications available on Android Market™.

Designed with a rear-facing 5 megapixel camera, the 4G LTE-enabled Galaxy Tab is also outfitted with a front-facing 1.3 megapixel camera and camcorder, enabling video chat capabilities. The 4G LTE-enabled Galaxy Tab includes access to Samsung’s Social Hub service, built around messaging, contacts and calendar sync, it allows users to send and receive information, whether it is e-mail, social network updates or text messages. It also features Samsung’s Media Hub content service available on the 4G LTE network, which offers a robust collection of premium movies and TV episodes for purchase or rental from some of the biggest entertainment companies in the United States. Additionally, the 4G LTE-enabled Galaxy Tab will come preloaded with popular LTE-specific applications.

“The 4G LTE-enabled Galaxy Tab takes full advantage of Android 2.2 to deliver a blazingly fast experience for customers,” said Marni Walden, vice president and chief marketing officer for Verizon Wireless. “The 4G LTE-Samsung Galaxy Tab pairs Samsung’s advanced technology with the power of Verizon Wireless 4G LTE, so that customers can leap into the future of the mobile multimedia experience.”

The Verizon Wireless 4G LTE Mobile Broadband network, launched in December 2010, is the fastest, most advanced 4G network in the United States, providing speeds up to 10 times faster than Verizon Wireless’ 3G network. Verizon Wireless’ 4G LTE Mobile Broadband network currently reaches one-third of all Americans, with plans to expand the network to the company’s entire 3G coverage area over the next three years.

For more information about Verizon Wireless’ 4G LTE network, visit www.verizonwireless.com/lte and for more information about Verizon Wireless at CES, please visit www.verizonwireless.com/ces or follow us on Twitter at www.twitter.com/verizonwireless.

Source: Verizon Wireless