Nokia is set to rival Apple's iPad by launching a new touchscreen tablet device this autumn.

Ashok Kumar, an analyst at Rodman Renshaw told TheStreet.com that the Finnish mobile phone giant hopes the new tablet can compete with Apple's iPad and similar products like the HP Slate, the Dell Streak and Lenovo's IdeaPad S10-3.

Nokia could not be reached to comment on the report.

Kumar, told TheStreet.com that the tablet computer could be a key product for Nokia, which already has a long line of portable internet devices, including the Nokia 770 Internet Tablet and the Booklet 3G netbook.

"Nokia hasn't fielded any breakaway products in years," Kumar said.

"This is a new window, and Nokia had better be at the starting gate if and when the product category takes off."

See also: Nokia sued by group of shareholders