Camera film businesses were devastated in the wake of the digital camera revolution, and standalone, non-professional digital cameras are taking a beating now that cameras are part of nearly every “smart” device on the market. So, camera companies will have to reinvent themselves to stay relevant. Sure, falling back on patent portfolio lawsuits is a decent short-term solution, but only if a company is buying its time to enter new markets.

This week at the Consumer Electronics Show (CES), Polaroid announced it will soon be entering the tablet market. Sometime in spring 2013 Polaroid will release two different tablets, a 7-inch and a 10-inch. What’s more, the company isn’t shying away from comparisons with the iPad Mini or the Galaxy Note 10.1.

The 7-inch tablet, called the M7, has a 7″ screen, a dual core processor, and a 2 MP front camera. Though the screen is slightly smaller than the iPad mini’s it’s resolution is slightly higher at 1280 x 800. It doesn’t come with 4G LTE, and it only comes with 8 GB of internal storage, but it does have an expandable storage option, presumably with an SD card slot. The tablet is comparable to Amazon’s Kindle Fire HD, but at has a far lower price of $129. That’s less than half the price of a iPad Mini.

The 10-inch tablet, the M10, has a 10.1″ screen with a 1280 x 800 resolution. It also has a quad-core processor, and HDMI out, and 16 GB of internal storage. The cameras on the back of the M10 is 5 MP, and the front one is 2 MP. It will retail for $229.

Both the M7 and the M10 will come running Android 4.1 Jelly Bean. While they aren’t the most powerful tablets on the market (Razer might have that distinction later this year), Polaroid appears to have created two solid devices that will compare favorably with tablet market leaders until the next generation of tablets come along this summer.