Apple's newest gimmick: The iPad mini?

Apple has announced that the new iPad mini will hit the stores this month. It’s rumored the release date will fall on November 2, just in time for the holidays.

Information leaked revealing that on October 23, Apple will be holding an invitation-only event in which they will allegedly release the iPad mini. This is all rumors, as Apple has confirmed none of these reports. The colorful invitation gave few clues as to what is to come. No details have been released, but it is predicted that the new iPad mini will have a high definition retina display and be priced under $300. The current iPad is valued $399 and the third generation, to be released in March, will be upwards of $499.

If this smaller, cheaper tablet lives up to the hype, the Amazon Kindle Fire and the Google Nexus 7 will have tough competition. But it’s already taking a lot of heat.

When the first generation iPad came out, there were countless negative reviews. Critics called it ridiculous and unnecessary, nothing more than an enlarged iPod Touch. However, the iPad has been incredibly popular and the iPad 2 has enjoyed critical success. So perhaps the iPad mini will follow this trend, despite the fact that it is hardly larger than an iPod Touch. But Apple’s cult following will doubtless buy the product as an alternative to the Kindle, Nook, or Nexus. That way, they can own an iPhone, an iPod touch, an iPad and an iPad mini. Just the essentials.