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Apple Could Announce iPad Mini on Oct. 23

Apple has sent out invitations for a product announcement
event on Oct. 23 at 10 a.m. PT. While the company is, as usual, keeping quiet
about its plans for the event, dozens of sites have reported in recent weeks
that the company will announce a new smaller screen tablet, which has been
dubbed the iPad mini.

Multiple reports from sites like TechCrunch and Business
Insider have indicated that the iPad mini could have a 7.85-inch display and go
on sale in November. Pricing could range from $199 to $399, according to

The new tablet would allow Apple to compete directly with
other smaller, less costly tablets, such as Amazon's Kindle, that up until now
were attractive to consumers unwilling to pay the $529.99 to $709.99 for the
newest iPads.

If Apple does launch a less expensive tablet in the run-up
to the holiday season, that could also significantly boost the penetration of
tablets, making them an even more important outlet for movies and TV
programming. Prior to the announcement, Magna Global had been predicting that
there would be nearly 69 million tablets in U.S. homes by the end of 2013.