Apple announces likely iPad mini event on Oct. 23
Apple announced that it has scheduled an event for Oct. 23, at which it is widely expected to introduce a smaller version of the iPad, dubbed the "iPad mini."
The "iPad mini" is believed to be a seven-or-so-inch tablet with a sub-$300 price tag. Apple's current iPad lineup starts at $399 for the year-old iPad 2 and $499 for the third-generation iPad, both of which have a near-10-inch screen.
Since the iPad debuted in 2010, no tablet challenger has come close to unseating it. Apple held a 70% share of the tablet market in the second quarter, according to the latest data from IHS iSuppli.
Only Amazon with its Kindle Fire, has made even a dent in the tablet space. Google with its Nexus 7, could also be a contender, but shipment figures for its device haven't yet been released. Both the Kindle and the Nexus tablets have seven-inch screens and are priced at $199.