Aug 29, 2012 11:39 AM EDT
iPad Mini Release Date, Price, Rumors: Will Compete Directly With Rivals Google Nexus 7 and Amazon Kindle Fire 2

The tablet race heats up as big tech companies such as Apple and Amazon make way to announce their new gadgets.

Apple is reportedly releasing a new smaller sized iPad, the iPad Mini, which is expected to be revealed in October.

Reports say that it is already in production. It is to compete directly with rivals Google's Nexus 7 and Amazon's Kindle Fire 2.

According to Forbes, which says the iPad Mini was "built to compete," reports say that it could possibly have A5X CPU from the current iPad 3, 8GB of storage, iOS6 and a price of $299, all of this with a 7.85" display and 1024×768 resolution.

The price is also expected to be less than $349.

These features place it directly in competition with the others, possibly sporting a $200 price tag, according to Tech Radar.

It was reported earlier that display production might have already started.

CNET revealed that display production for the upcoming tablet could start as early as August.

Production of the 7.85-inch display slated for use on a smaller version of the iPad should begin in August, an analyst told CNET.

Recent reports say that iPhone 5 will debut at a special event on Sept. 12, 2012 and will release the next Friday on the 21st. It was said that the iPad Mini will be announced at the same event.

However, according to Gizmodo, well-connected and professional Apple dot-connector John Gruber is disputing the previous report about a dual-announcement of the iPhone 5 and iPad Mini and hinting that it makes more sense for Apple to hold two different events and announce the iPhone 5 on Sept. 12th and then wait until October to introduce the iPad Mini.

"First, an iPhone event, focused solely on the new iPhone and iOS 6. Then, the iPhone ships nine days later, and there's another wave of iPhone-focused attention as the reviews come out," Gruber explained. "Then, in the first or second week of October, Apple holds its traditional 'music event,' exactly along the lines of the events at which they've been debuting new iPods for the last decade.

This is only speculation, but Gizmodo reported that Gruber traditionally has been spot on when it comes to Apple things.

Amazon is hinting at announcing the new Kindle Fire 2 at a big press conference on Sept. 6.

Reports say that the new little iPad will feature a 7 to 8 inch IGZO display with 330 pixels/inch. It will be more affordable. It is also assumed that the new tablet will feature Apple's upcoming operating system, iO6, which includes a new, Google-free Maps app, and Passbook, and promises better Facebook integration, better maps, and better video conferences that use cellular data, according to Entrepreneur.com.

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