The ongoing frenzy for consumer tablets in the market will continue to grow like wildfire with Apple continuing to dominate the sector, according to an analyst.

A 49-page white paper summary by Sanford Bernstein chip analyst Stacy Rasgon mentions that Apple will easily counter the threats opposed by rival breeds of Androids like the Samsung Galaxy S 2 and the HTC Sensation.

Apple has created a company the size of EMC (EMC) in one year if revenues from the device were spun off into a separate company, the report mentions.

The observations made by Rasgon were based on discussions with fellow analyst Alberto Moel who covers telecom stocks, Toni Sacconaghi who covers Apple and Pierre Ferragu, who covers Nokia.

As per their discussions, there will be only a modest cannibalization of PCs with tablet producers like Dell (DELL) and Hewlett-Packard (HPQ) having more credibility than HTC and other smart-phone makers.

Another vital observation made by Rason and his colleagues is that the prices will drop with a possibility of a sub-$200 tablet by 2015. However, it is expected that the there won't be any drop in the panel prices.

The new report has projected a different angle to recent speculations about Apple being behind in the race of smartphones, particularly the much-hyped Google Nexus phone- the Nexus 4G.

BGR reported that the new Nexus device by Google is going to be an absolute beast. The device is said to feature a dual-core 1.2GHz or 1.5GHz CP possibly an OMAP 4460 or a, ultra low-power 28nm Krait-based Snapdragon contrary to recent reports about a NVIDIA Kal-El processor.

The Nexus 4G will also sport a 720p HD monster-sized screen without the usual Android menu buttons below the screen. The device, which will run on Android 4.0 or Ice Cream Sandwich, is expected to be released around two months after the launch of the iPhone 5.

It is further reported that the Nexus 4G will feature a 4G LTE radio, 1GB of RAM, 1080p HD video capture and playback, a 1-megapixel front-facing camera, and a 5-megapixel rear camera. However, recent reports about the iPad 5, which will come loaded with iOs 5, mentions that the device might be able to play around 1080p videos.