Microsoft is reportedly planning a new $400 tablet to compete with the iPad (AAPL, MSFT)

Microsoft is reportedly working on a new, lower-cost Surface tablet, according to a report from Bloomberg. 
The new tablet would start at $400 and have a 10-inch screen, about nine hours of battery life, and USB-C charging. 
Microsoft has dabbled in more consumer-friendly tablets in the past, but has shifted focus in recent years to its pricier pro line of tablets and laptops. 
Microsoft could be releasing a new competitor to the iPad as soon as this year.
According to a report fr