We knew that HP was going to have a competitor to Apple’s market-leading iPad, but until now specifics of the tablet were not available.

[ad#Google Adsense 300×250 in story]According to a source at HP that spoke with FoxNews.com’s Clayton Morris, HP’s “TouchPad” will feature Flash support; Netflix, Hulu Plus, and Amazon support by the end of the year; Unlimited cloud storage for a new music store; an eight hour battery; and the device will weigh-in at 1.5 pounds.

While the devices are currently being called “TouchPad,” that’s not what they will be called by the time they hit the market. Morris said the prototypes still have the palmPad name on them.

Morris also said that other names being considered for HP’s tablet include TouchSlate, TouchCanvas and DuoPad.

HP is expected to announce its tablet at an event in February.