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Asus has announced that its Transformer Pad Infinity (TF700) is set to hit shelves in the U.S. in the week starting July 16. The 32GB model of the tablet will cost $499 while the 64GB model will be available for $599.

Like other Transformer tabs, the accompanying dock will be sold separately for $149. However, according to Engadget, for those who are thinking of trading in their six-month-old Primes, the older TF201 dock is fully compatible with the TF700.

The device has also been listed at Best Buy for $599.99. As per the listing, the Transformer Pad Infinity will sport 64GB of memory, NVIDIA's Tegra 3 processor and a 1,920 x 1,200 10.1-inch Super IPS+ display. 

However, the Best Buy listing appears to be for the WiFi-only version of the Transformer Pad Infinity as there was no mention of the dual-core Snapdragon S4-equipped LTE variant of the device.

Earlier this month, Android Authority reported, citing an anonymous Asus representative, that the company would launch the Transformer Pad Infinity by the end of June in both a WiFi only and an LTE version, which will be available on AT&T.

We've been told that Asus encountered production issues with upstream suppliers, but they are now solved and all the pieces are falling into place for the TF700 launch, said the report.

Although there is no official confirmation from Asus about the expected launch of the tablet, a presentation video for the TF700 that surfaced recently has added to the hope that the launch of the sleek device is not too far away.

The video was leaked by a redditor, who called it a launch video.

The Asus Transformer Pad Infinity TF700T, which first appeared at CES 2012 back in January, would include three device variants: a WiFi-only version, an HSPA+ version, and an LTE version.

The LTE version of the tablet, for the U.S. market, will be powered by a dual-core Snapdragon S4 processor due to incompatibility issues between LTE radios and quad-core processors.

Below is a hands-on video of the WiFi-only version of the Asus Transformer Pad Infinity.

Take a look at the device's specifications below:

Display: 10.1 1920 × 1200 FHD Super IPS+ screen with 178° wide viewing angle and 600 nits outdoor readable mod, Scratch resistant Corning Gorilla Glass 2

OS: Android 4.0 Ice Cream Sandwich

Processor: Qualcomm MSM 8260A/8960 Snapdragon S4 Krait Dual-core 1.5Ghz CPU(3G / LTE); NVIDIA Tegra 3 T33 Quad-core 1.6GHz (WiFi) CPU

Memory: 1 GB

Network: Wifi/3G/ LTE

Data rate:

i. 3G SKU: HSPA+ 21/5.76 Mbps

ii. LTE SKU: 100/50 Mbps

Storage: WiFi: 32/64GB

3G - LTE: 16/32/64GB

Connectivity: 802.11 b/g/n, WI-FI Direct, Bluetooth 2.1 + EDR & Bluetooth 4.0 LE

Camera: 2MP (front)/8MP Auto focus (rear) with flash, F2.2 large aperture, backlit CMOS

Input/Output: PAD: 2-in-1 Audio Jack (Headphone / Mic-in); 1 × micro HDMI port 1 × Micro SD Card Reader; Internal Microphone & Stereo Speaker

Mobile Dock: 1 × USB2.0 port; 1 × SD Card Reader

Battery: 10 hours; 25Wh Li-polymer Battery

16 hours pad with dock; 25Wh(pad) + 22Wh(dock) Li-polymer Battery

Size/Weight: 263 × 180.8 × 8.5 mm; 586g (pad only)

263 × 180.8 × 8~10.4 mm; 537g. (dock only)

263 × 180.8 × 17.2~19.6 mm; 1123g (pad with dock)