For months and months and months, we have heard rumors about a 7.85 inch version of the Apple iPad. Finally, Apple has issued invites to an event on October 23rd when the Apple iPad mini should be introduced. The event will take place at the California Theatre in San Jose, California, and while the invitation doesn't mention the iPad mini by name, it does say "We've got a little more to show you." (emphasis ours).
Apple is hoping that the Apple iPad mini will allow the company to compete in the 7 inch, low price tablet sector that is populated by the Amazon Kindle Fire HD and the 8GB Google Nexus 7 both of which cost $199. It is assumed that the Apple iPad mini will be priced above those two Android models, possibly starting in the $249-$299 range. Analyst Shawn Wu says that Apple will have to price the tablet in the $299-$349 area to keep the same profit margin the company enjoys with the larger Apple iPad.