Looks like Apple’s iPhone has some competition coming in. According to a report in the Wall Street Journal the first Google powered smartphone will have an initial retail value of $199.

This touch-screen smartphone, with an additional sliding physical keyboard, is expected to face steep competition though. Not only from Apple’s darling device, but also from Palm and Samsung whose entry level smartphones are priced at $100.

Meanwhile, T-Mobile, the carrier of the first Google OS run smartphone is expected to reveal the HTC to an expectant audience on Tuesday, in Manhattan.