Apple Event October 2012: iPad Mini Release Date and Price Rumored to be Unveiled

The Apple event will take place on October 23, 2012 and the iPad mini date and price are rumored to be officially released. The iPad mini is expected to be a more affordable option for those who cannot afford the larger device, or for those who who prefer a smaller sized tablet.

It has not been specified what product would be unveiled during the upcoming Apple event. An Apple spokesman declined to make any comments regarding the event to Mstarz, however many rumors are consistent that less expensive devices will be offered.

Currently, Amazon Kindle Fire dominates the market for smaller reading tablets and the Google Nexus 7 also offers a smaller screen. The price starts at $199 and does not provide a large profit for the makers. The contents including music and books are what brings in the profits.

Sterne Agee analyst Shaw Wu said to Reuters that, "The biggest cost in a tablet is the display. On a mini, the display will be a bit cheaper."

"If the tablet is priced below $299, Apple could still maintain a decent margin if it offers 8 GB of storage instead of the minimum 16 GB storage it has in the current iPad," Wu added.

All that info that we are looking for will be confirmed on October 23, 2012.