New Smaller iPad

 Apple is launching a new, smaller IPad device this month that is informally being called the iPad Mini due to its smaller 7 inch screen and “mini” price of $299.

Apple has a new iPad that will be released to the public during the last week of this October. Because the new device will have a smaller screen and a lower price tag than similar competitive tablet devices like those from Samsung and Amazon, people are already referring to it as the “iPad Mini.” The early word is that the new iPad will cost about $299 and the screen will shrink from 9.8 inches down to between 7 and 8 inches. And unlike previous iPads that were available with both Wi-Fi and cellular service plans, the new device will be available in a Wi-Fi only version. The new iPad hits the market at a time when many other tech companies are also putting out new smaller tablet devices with 7 inch screens like Amazon’s smaller $199 Kindle Fire and the Google and Samsung $199 Nexus devices. Microsoft is unleashing a new device to compete with the iPad as well with its Microsoft Surface device that also features a smaller screen.

The new, smaller iPad marks a departure from Apple’s insistence in the past that most consumers prefer larger screens on their portable devices, however some analysts note that by not having a 7-inch model in its lineup, Apple has been giving away a full 20% of the market to competing devices. Sales projections for the smaller new iPad are optimistic as Apple hopes to sell a staggering 10 million of the devices by the end of this year if there are no hang-ups in the production line, and even with a few hiccups in production, Apple says it will still be able to sell at least 5 million of the little iPads by year’s end. Since the introduction of the first iPad device in 2010 Apple has managed to sell an astounding 75 million of them.

Apple sells more phones than iPads though, as industry analysts estimate that the company has sold over 250 million iPhones total. The concerns over production line issues with the new, small iPad stem from Apple’s recent release of the new iPhone5 that was plagued with supply chain problems. Apple was able to sell 5 million of the new iPhones in just the first month on the market, but some industry analysts have said the tech firm could have probably sold nearly twice that many if there were more available on the shelves. Customers have been frustrated trying to buy the iPhone5 as Apple marked its next-day supply of the phones available as pre-orders online only, but would-be buyers had a very hard time finding any stores that actually had the phones in stock just two weeks after launch. Obviously, the giant tech company does not want to repeat that mistake with the launch of the new iPad Mini, and says it is taking steps to ensure an adequate supply is in the stores through this November, just in time for the holiday season.