Apple Inc. is set to reveal a smaller,
cheaper version of the iPad at an event on Oct. 23, according to several
reports published
Friday.
The reports from Bloomberg News, Reuters and the AllThingsD blog are based on unnamed sources "familiar with the plans."
Apple Inc. hasn't said anything about a
smaller tablet, a concept company founder Steve Jobs derided two years
ago. But company-watchers
have assumed for months that an "iPad mini" will appear before the
holiday season.
The screen is reportedly about half the size
of the iPad's, which measures 9.7 inches diagonally. Analysts speculate
the starting
price of the device could be about $299.
With the device, Apple could close an
opening in the tablet market for rivals like Amazon.com Inc., whose
Kindle Fire is half
the size of the iPad and starts at $199. Google Inc. and Barnes
and Noble Inc. also sell tablets in the same size and price
range.
Apple's event would occur three days before
Microsoft Corp. releases Windows 8, the new version of its operating
system. Microsoft
will be releasing its "Surface" tablets with the software.
Apple's stock rose $1.61 on Friday to close at $629.71.