Apple's iPad Mini expected to be launched on 23 October

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Speculation about Apple’s new iPad Mini – the name given to the smaller tablet by the media – is reaching fever pitch.

Citing an unnamed source, Reuters said the company will hold an event on 23 October where the iPad Mini is expected to be launched.

Apple has kept mum so far.

The new version of the tablet is said to have a 7 to 8-inch screen, as compared to the current iPad which has a 9.7-inch display.

An analyst told USA TODAY that the new iPad Mini is likely to be sold at US$299 (S$365).

Citing information from a German electronics company, The Daily Telegraph reported that the device’s starting price would be £200 (S$393).

The iPad Mini will probably go down well with those feel the current iPad is too expensive.