Samsung has created a little competition for the iPad with the Galaxy Tab. While the iPad never seems to go on sale (never!), we found a deal that should put Samsung’s 7-inch tablet into a lot more hands.

For a limited time, Verizon Wireless is offering Samsung’s Galaxy Tab for just $49.99. To get 90 percent off the list price, you will need to make a brand new 2-year service agreement or add an additional line of service. Verizon is also discounting the price for existing users to $229.99, with a 2-year agreement.

The 7-inch Galaxy Tab has the Android 2.2 (Froyo) operating system, WiFi support, Adobe Flash Player 10.1, the Amazon Kindle app, and more. Also, it has a ton of Verizon-specific goodies, such as V CAST Apps, V CAST Music and V CAST Song ID.

Like the iPad, this tablet has dueling cameras: 3 megapixels with auto focus and flash for the back, and 1.3 megapixels for the front. Verizon says that this unit also comes with a 16 GB microSD card pre-installed.

According to Verizon’s website, if you order online, they will ship it overnight for free. Just know that there is a $350 early termination fee, so make sure to read all of the terms and conditions. Verizon is offering this discount on new accounts and purchases made through Sunday, May 13, 2012, making it a great last-minute Mother’s Day gift!