What we think we know about the “iPad mini”

October has been rumored to be the month when we'll get to see Apple's answer to the low-cost, 7-inch Android tablets from the likes of Amazon and Google. Dubbed "iPad mini," the device is expected to cost between $249 and $299, and will largely be geared toward educational markets and cost-conscious consumers who have yet to be enticed by the $399 entry-point for the 10-inch iPad 2.

We don't know for sure when Apple will unveil the device to the public, but the sheer number of rumors and purported parts leaks suggest the device is real—and is coming soon. Here's a quick review of what the device might be like.

Size

The standard iPad sports a 9.7-inch diagonal, 4:3 aspect ratio screen. The iPad mini is widely rumored to maintain that same 4:3 aspect ratio, merely shrinking it down to 7.85 inches in size. That should result in a device that is approximately 35 percent smaller than the iPad overall, and presumably 35 percent lighter, too.

7-inch Android tablets have largely adopted a 16:9 aspect ratio screen. While the iPhone 5 has adopted this same aspect ratio by slightly extending the vertical pixel count over the iPhone 4 and 4S, it seems more likely that Apple will maintain the 4:3 aspect ratio for a smaller iPad, which will greatly simplify things for application developers.

Most analysis of the reduction in screen size suggests it will not be a "Retina" display as on the iPad 3, but rather the same 1024×768 of the original iPad and iPad 2, to keep costs down. Furthermore, it is widely believed that the iPad interface can be shrunk to 7.85 inches without modification, and still maintain the same level of usability.

Back in 2010, former Apple CEO Steve Jobs famously scoffed at 7-inch tablets as too small to be useful, but Apple SVP of iOS Software Scott Forstall said in August that Jobs had "seemed receptive to the idea" after SVP of Internet Services Eddy Cue suggested that Apple should consider a smaller tablet in early 2011.

Internal hardware

An iPad mini will most likely be powered by the 32nm, lower-power version of the dual-core A5 processor used in the $399 iPad 2 and fifth-generation iPod touch. The iPad 2 has proven performance running with the A5, and the lower power requirements should enable the smaller device to maintain an 8–10 hour battery life. That kind of all-day run time will be particularly important for educational users as iPads are increasingly being integrated into one-to-one technology programs.

The price-busting $199 Google Nexus 7 tablet only comes with 8GB of local storage, but we expect Apple to leverage its long-term NAND flash contracts to include 16GB (Google also sells a 16GB Nexus 7 for $249). Storage will be important for the iPad mini, especially when it comes to loading these devices with interactive textbooks and storing multimedia projects for classwork. Home users will appreciate the added storage for video, audio, and apps.

Apple may offer a 3G/4G-compatible version of the iPad mini, and if so, expect to see the same Qualcomm integrated baseband as the one used in the iPhone 5. However, at these rumored low prices, it seems more likely that the iPad mini will be limited to Wi-Fi only.

Camera

The iPad mini will likely feature a FaceTime camera on the front, perhaps even the 720p FaceTime HD camera of more recent iOS devices. On the back, expect the same 5MP autofocus camera currently on the iPad 3, iPhone 4, and fifth-gen iPod touch. Shooting photos and videos has proven to be important for mobile devices like smartphones and tablets, so we don't think Apple will skimp here.

Design

Purported images of the rear of the iPad mini have leaked in the past couple days. The device appears to be like a cross between the new fifth-gen iPod touch and the current iPad. On the bottom are two speaker grilles flanking Apple's new Lightning port; on the side, the usual volume buttons and mute switch. On the top, the headphone jack and power switch. The rear casing appears to be all aluminum, with Wi-Fi and Bluetooth antennas hidden behind a plastic Apple logo.

Topeka analyst Brian White cited sources within Apple's supply chain suggesting that the iPad mini may even exceed the current iPad 3 in aesthetics. "Apple did not skimp on the aesthetics of the much anticipated 'iPad Mini,'" White told AllThingsD. "In fact, we believe the 'iPad Mini' could outshine the new iPad in terms of how the device feels in a consumer's hands."

Addressing consumer appeal, Gizmodo editor Jesus Diaz argued that Apple may offer the iPad mini in different anodized colors, like the new iPod touch and iPod nano. There haven't been any rumors to this effect—and logistics of offering various colors may eat into what could be already thin profit margins—but we like the idea, too.

Price

Our own Andrew Cunningham suggested that Apple will likely price the iPad mini at $299. That's the exact same price as the new fifth-gen iPod touch, and it seems like the hardware will be largely the same. However, as Andrew noted, the iPod touch is designed to fit in a pocket, whereas an iPad mini serves a different audience. "Apple isn't too worried about a little overlap as long as its products are sufficiently differentiated," he wrote.

Others believe that Apple may push the price down as low as $249 in order to attract price-sensitive buyers and avoid ceding any more market share to the likes of the Kindle Fire HD or Nexus 7.

$299 is a great price for the rumored hardware, but $249 is even better. Since the only good business reason to release an iPad mini in today's tablet market is to widen the mass market appeal of the iPad brand, we expect Apple to go as low as it can with the price.

Availability

Mass production of the iPad mini has reportedly already begun in earnest, and the Wall Street Journal recently cited sources that claimed Apple has asked suppliers to make "more than 10 million units" in the fourth quarter. As we noted on Monday, that number suggests Apple expects a lower-cost iPad to be a big hit this holiday season.

At the same time, Apple may also release a slightly revised third-generation iPad, leveraging the new, lower-power Qualcomm LTE baseband for improved 4G network compatibility. Apple ran into some regulatory trouble in calling the wireless broadband-capable version the "iPad Wi-Fi + 4G," because the chips only work with North American LTE networks. Using the new Qualcomm chips would improve international compatibility. The revised iPad is also expected to include the new Lightning connector.

We won't know until we know

It should go without saying that none of these details are a lock until Apple actually unveils the device. What is clear, however, is that there appears to be an unusual amount of excitement for a product that Jobs himself didn't think much of only two years ago. Assuming many of the details above are accurate, how many of you plan to trade in your existing tablet for an iPad mini?

Listing image by Martin Hajek