The new iPad Mini is now a reality as Apple just announced it today at a full-packed special event in San Jose, California. The iPad Mini boasts a technology that's equal to or better than the iPad 2. It runs on an A5 chip processor, offers a FaceTime HD front-facing camera, a 5-megapixel iSight camera on the back, LTE wireless, Lightning connector, and a 10-hour battery life.

The new iPad Mini has other features, including a 7.9-inch screen, weighs in at 0.68 pounds, and is just 7.2 mm thin. The iPad Mini has two models: a Wi-Fi version and a Wi-Fi + cellular version. This tablet starts with 16GB of memory and goes up to 64GB. Pricing starts at $329.00 a piece for the Wi-Fi only version and the Wi-Fi + cellular models start at $459.00 a piece.

Pre-orders for the iPad Mini will start on October 26, 2012, with Wi-Fi models shipping November 2 and Wi-Fi + cellular models shipping two weeks later, according to Apple. Apple describes the new iPad Mini as "light as a pad of paper" and as "thin as a pencil". The tablet also comes in Black or White colors.

Additionally, Apple also unveiled some of the products on its lineup, including a 4th-generation iPad (iPad with Retina Display), a new version of iBooks Author, a 9th-generation iMac, a new Mac Mini, iBooks 3, and a new 13-inch MacBook Pro with Retina Display.

The only remaining question now is, are the consumers willing and able to take a bite on the new iPad Mini, given its price point and when compared to other tablets like the Kindle Fire HD and the Nexus 7 tablets? We'll all soon find out, that's for sure.

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