The Iconia B1 mini tablet will run on Google's Android Jelly Bean operating system.
Acer president Jim Wong told reporters Iconia B1 will first be introduced in Asia and South America at prices that could go as low as $99 in special promotional programs.
That will make it cheaper than Google's Nexus 7 or Amazon's Kindle Fire.
Once a leading PC maker, Acer's revenue has fallen sharply as tablets undermine PC competitiveness.