Computer and electronics manufacturer HP will reportedly release an inexpensive Android smartphone next week. The device could be priced around $200 and made for the prepaid and emerging markets. It’s also said that the device will resemble the Samsung Galaxy Note, but at a lower-price point.

We’ve gotten word from inside HP that the company is set to release an inexpensive Android smartphone aimed at the prepaid and emerging (BRIC) markets. We’re hearing the street price will be around $200 and it will be released in more than one market. Our source has pegged the launch at next week but delays can’t be ruled out at this point (and we’ve yet to hear anything publicly). Nokia Meego defector and new HP SVP Mobility  Alberto Torres is said to be heading up the group which has been working on the product for a year and a half.