Competition and capitalism are beautiful things. In a move that essentially says “take that Apple” HP is going to release their Slate that will compete directly with the forth-coming iPad.

The device will be running Windows 7 and include integrated support for Adobe’s Flash.

“With this slate product, you’re getting a full Web browsing experience in the palm of your hand,” posted Phil McKinney, vice president and chief technology officer for HP’s personal system group on the company’s blog. “No watered-down Internet, no sacrifices.”

No official release date or pricing has been announced, but looking at the video, this thing looks pretty decent.