Toys “R” Us Inc., the world’s largest toy retailer, is releasing its own tablet computer with applications designed for children as it works to boost sales in the expanding market for the devices.

The tablet, called “Tabeo,” will be available in stores Oct. 21 for $149.99 and includes parental controls and 50 free, pre-installed child-oriented applications, the company said Monday.

The tabeo will have a 7-inch screen and be able to connect to the Internet via Wi-Fi.

The new tablet gives Toys “R” Us its own entry into a market that may reach $66.4 billion in 2012, according to research firm DisplaySearch. Toys “R” Us sells other tablets but not Apple Inc.’s market-leading iPad.

Toys R Us sells other electronics including Apple Inc.’s iPad, but this is its first store-brand tablet. The Tabeo’s main competitors include LeapFrog Enterprises’ LeapPad and VTech’s InnoTab.

“Over the past year, we’ve spent considerable time talking to parents and children to determine what features and functions they really want in a kids’ tablet, resulting in tabeo,” said Troy Peterson, vice president of Divisional Merchandise Manager for Toys R Us, said.

“We are proud that tabeo offers robust and flexible parental controls that can help protect children as they surf the Internet, and we are pleased to offer the tabeo App Store, which features only kid-safe content carefully curated by the Toys“R”Us team.”

Content includes:

Games: “With nearly 20 included games, like Angry Birds, Fruit Ninja, Cut the Rope, Temple Run, 100 Floors, Collapse!, Tiki Golf, Tiki Cart 3D and more, tabeo users are guaranteed to enjoy today’s most popular titles,” the company said.

Education: ”Nearly 10 apps help children learn about letters, math, science and additional categories. Software installed on tabeo includes AlphaTots, Discovery Kids Putterbugs, Operation Math and TechCalc, along with five more learning apps.”

Entertainment: ”Those ready to explore the world around them can find creativity, photography, cooking and activity apps, such as Putt Putt Zoo, Freddy Fish and the Stolen Shell, Camera App, and more than ten additional apps.”

Books: ”Featuring an initial library, tabeo comes with iStorybooks, Candy Factory and Little Red Riding Hood.”

A tabeo “app store” features more than 7,000 free applications, the company added.

(Bloomberg and The AP contributed to this report.)