Bloomberg is reporting that Walmart is "moving into iPad territory," in its plans to make a children's tablet. This clearly low-end device from a retailer known for its cheapness somehow constitutes — and I feel the need to quote Bloomberg again here — an "iPad rival."

Details about the new device are still sparse, but a Walmart spokesperson confirmed the company is working on the product. The children's tablet will launch under Walmart's ONN electronics brand, be manufactured by an unnamed Chinese company, and is expected to run Android. Given these details, it might be more apt to call Walmart's tablet for kids a "Kindle Fire rival," than anything else.

The ONN brand, up until now, has mostly been used for generic cables, headphones, and other more basic, high-margin accessories.

Bloomberg further believes that Walmart plans on making electronics a bigger focus this year in general. That might be a tough move given the decline of the tablet market, and the expected slowdown in the phone market this year.