US based iPhone maker is expected to challenge rivals Amazon and Google with the launch of a new smaller version of its iPad tablet, iPad mini, at the company's scheduled event to be held in California Theatre in San Jose later this month.
Featuring a 7.85-inch screen, the new iPad mini would allow Apple to take on Amazon's new version of its Kindle Fire tablet and Google's Nexus 7 tablet launched in July, both of which feature 7-inch screens and priced at $199.
According to reports, the new device may not feature the high-definition (HD) screen of the existing iPad version released in March 2012.
Rival for Apple's new device also include Microsoft's new Surface tablet that was unveiled in June 2012, while Amazon's Kindle Fire tablet remains dominant among non-Apple products.
Prior to Apple's confirmation of the event, Microsoft assured that it would sell the 32GB Wi-Fi only variant of the Surface tablet at a low price when compared to that of Apple.
The Wall Street Journal has reported that the iPhone maker has already commenced production of 10 million of the new iPads.