Samsung Galaxy Note 10.1 tablet on sale Aug. 16

Samsung Galaxy Note 10.1
Josh Miller/CNET

(CBS News) Samsung announced Wednesday details of the Galaxy Note 10.1 tablet at a press event in New York City.

CNET Review: Samsung Galaxy Note 10.1
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The Samsung Galaxy Note 10.1 features Google Android operating system version 4.0 (Ice Cream Sandwich), two cameras and Photoshop Touch.

Additional technical specifications include: 1.4 gigahertz processor, Wi-Fi connectivity, 10.1 inch touch-screen display, 1,280 x 800 pixel resolution and 16 GB of flash memory.

Samsung says the tablet's operating system will eventually be upgradable to Android version 4.1 (Jelly Bean).

One of the highlights of the Galaxy Note 10.1 is the S-Pen, which is the tablet's stylus pen. Filmmaker Baz Luhrmann and fashion designer Zac Posen appeared on stage at the Samsung event to talk about ways they've used the stylus.

The Galaxy Note 10.1 comes in two models: The 16 GB version retails at $499 and the 32 GB model retails at $549. Samsung's new tablet compete with Apple's iPad and the upcoming Microsoft Surface tablet.

Samsung's Galaxy Note 10.1 goes on sale Thursday. However, New York City residents can purchase the tablet at the Best Buy in Union Square now.