Apple’s iPad is a killerly popular tablet. However, it is a well-priced killerly popular tablet. As an alternative to the 10 inch tablet market, many companies offer cheaper 7 inch tablets. Samsung is popularly credited with creating this niche with its Galaxy Tab 7.0 but it is Amazon, with its Kindle Fire, and now Google, with its Nexus 7, that dominate the 7 inch tablet world. Apple has no product competing in the 7 inch tablet market. That might change very soon.

Reports from various sources, including prominent organizations such as Bloomberg and The Wall Street Journal and blogs such as MyDrivers (a Chinese website), claim Apple has decided to compete against 7 inch tablets by releasing its own ‘iPad mini’. This iPad mini is said to have a screen size ranging between 7-8 inches, will be priced around US$249-299, and will be released later this year. At this “low” price it is hard to see Apple including a Retina display in the iPad mini; nonetheless, I’m sure with its buckets of cash Apple won’t throw a sub-par screen on this puppy.

Aside from screen size and price there aren’t any other semi-concrete details regarding the iPad mini, such as processor, memory, iOS version, battery life, or whether it will include Siri or not. Whatever the case may be, an iPad priced below $300 will most likely prove to be a game changer for low-end Android tablets. Luckily for Google, the Nexus 7 has so far received stellar reviews and being released before the iPad mini will give it a fighting chance. Do you agree? Share with us in the comments below!

[via BGR]