The Samsung Galaxy Tab is a bit cheaper for Verizon Wireless customers willing to sign up for a two-year contract.

The 7-inch tablet, which launched on Verizon's network in November, is now available for $299.99, down from its full retail price of $500. The only catch is that customers who want to get the cheaper Tab must enter into a two-year contract with Verizon Wireless.

At $300, Verizon puts its Galaxy Tab offer within striking distance of T-Mobile. That carrier is currently selling the tablet for $249.99 after a two-year commitment and mail-in rebate. However, Verizon is now priced evenly with Sprint's $299.99 Galaxy Tab offer. AT&T is still selling the tablet for $549.99 with no contractual commitment.

The Galaxy Tab isn't the only tablet on which Verizon is offering a $200 subsidy.

Starting today, Verizon is selling the Motorola Xoom to its customers for $599.99 after a two-year commitment. Those who want a contract-free Xoom will need to dish out $799.99. The Xoom features a 10.1-inch HD display and a 1GHz dual-core processor. The tablet runs Android 3.0 Honeycomb, and according to Motorola, will be upgradeable to 4G at no additional charge.

Those who plan to ditch the Xoom in favor of the Galaxy Tab, however, can take advantage of the reduced pricing by buying the tablet at a Verizon Wireless store or online.