HP(Hewlett-Packard) TO LAUNCH TOUCH PAD NEXT MONTH

Hewlett-Packard Co, hoping to tap into the tablet market dominated by Apple Inc'siPad, said it will begin sales of its TouchPadcomputer in July.

The tablet will sell for $499.99 to $599.99 depending on storage capacity, Palo Alto, California-based Hewlett-Packard said in a statement today. Sales will begin in the US on July 1, followed by the UK, Ireland, France, Germany and Canada.

The first version of the TouchPad will have Wi-Fi technology to connect to the Internet through wireless hotspots. A future version of the device will connect through AT&T Inc (T)'s wireless network, Hewlett-Packard said.

Personal-computer makers are rushing into the tablet market as consumers buy the smaller, touchscreen devices and demand for traditional PCs slacks off. This week, research firm IDC lowered its estimate for growth in PC shipments this year to 4.2 percent from a February estimate of 7.1 percent, citing competition from tablets and smartphones as well as the sluggish economy.

The TouchPad will compete with the iPad, Motorola Mobility Holdings Inc's Xoom and the Research In Motion Ltd PlayBook.