"Power reasons" force the switch from NVIDIA's Tegra platform to Qualcomm according to the source
A report from Reuters earlier says that come July, we'll have a new version of Google's popular Nexus 7 tablet. ASUS will still be the manufacturer, but a few key things will have changed. Expect a higher resolution screen with smaller bezels, and concerns over "power" (we take that to mean battery power) have forced a switch to Qualcomm for the CPU.
Pricing is said to still be in limbo, but the $199 figure has been mentioned. This is the same base price as last year's Nexus 7, and a key to its success.
If this rumor turns out to be true, a July release would work well with an unveiling at Google I/O this May. ASUS sold an estimated 4.6 million Nexus 7s in the second half of last year, and updated specs at the same price will draw plenty more interest. We're keeping an eye on this one.