The iPad Mini has been one of the number one rumors around Cupertino based Apple and it looks like Bloomberg has come across further evidence that it will be happening this year. Competition in the tablet market is increasing and Microsoft, Amazon and Samsung have primarily tried to enter the market with a smaller version tablet to beat Apple. Now it looks like a 7-inch non Retina display version of the iPad will be announced later this year to counter the new competition.

The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, one of the people said.

The new device is apparently priced at 200-300 USD, considerably below the current iPad. We will keep you posted on the rumors.

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