A few days ago we told you that Apple is reportedly going to unveil the 7.85-inch iPad mini during a special media event set for October 23. Now, that date seems to be even more likely considering that Reuters is also reporting that the smaller iPad will be officially announced next week, on October 23.

Obviously, the long-rumored iPad mini will be Apple’s response to the increasing demand of 7-inch affordable tablets, with Amazon’s Kindle Fire line and Google’s Nexus 7 tablet being the best sold devices in this category, at least for now.

But unlike Amazon and Google which aren’t making any money from actual tablet sales but rather from digital content distribution, Apple is likely to turn a profit on its Apple mini:

Sterne Agee analyst Shaw Wu said that, if Apple prices the smaller tablet between $299 to $349, it could maintain the current margins.

“The biggest cost in a tablet is the display,” he said. “On a mini, the display will be a bit cheaper.

If the tablet is priced below $299, Apple could still maintain a decent margin if it offers 8 GB of storage instead of the minimum 16 GB storage it has in the current iPad, Wu added.

And it seems that such analyst talk is now backed up by a leaked inventory screenshot from German retailer Media Markt that reveals the iPad mini pricing structure. Apple will apparently launch two 7.85-inch tablet versions, Wi-Fi-only and Cellular + Wi-Fi and offer four capacities for each one, from 8GB all the way up to 64GB. Add to that the fact that each version will be available either in black or in white and you end up with 16 flavors to choose from. Comparatively, the newest 9.7-inch iPad is also available in Wi-Fi and Cellular + Wi-Fi options; in the same two color options, but offers only three capacities, from 16 to 32GB – therefore 12 iPad 3 versions are available in stores, not including the iPad 2 that’s still selling alongside the current flagship product.

Here’s what you can expect the iPad mini to cost, depending on what model you will choose from:

  • 8GB iPad Mini Wi-Fi – €249
  • 16GB iPad Mini Wi-Fi – €349
  • 32GB iPad Mini Wi-Fi – €449
  • 64GB iPad Mini Wi-Fi – €549
  • 8GB iPad Mini Cellular + Wi-Fi – €349
  • 16GB iPad Mini Cellular + Wi-Fi – €449
  • 32GB iPad Mini Cellular + Wi-Fi – €549
  • 64GB iPad Mini Cellular + Wi-Fi – €649

In case the numbers above are real, then we should expect U.S. iPad mini pricing to also start at $249 and go up all the way to $650. We’ll be back with more details about the iPad mini and comparisons to top 7-inch Android tablets in the near future.

  • wade

    Why the constant apple news, i know its the competition but you don’t need to advertise for them. They market the crap out of themselves already.

    • I’m happy to receive iPad Mini news, as I’d like to buy one. I already have a Galaxy S3, but I’ll also need to run iOS apps as well…

  • Way too expensive

    • I agree. This will be no competition for the Nexus 7. Only people who’d like to run iOS apps will buy the iPad Mini. Unfortunately I’m one of them, and I’m not happy about the pricing. Anything below 32 GB (without expandable memory) is a joke nowadays…

  • Garry M Burkhalter

    This is funny cause it’s on android’authority. Nice to know that Apple spends money on its competitors. Maybe they should spend their money on better R&D, because they’ve lost alot of ground to Androids the last few years. At this rate (5 yrs top) they’ll need to keep suing to keep their iOS devices on the market. Regardless their devices seem remedial now. A kind of pre-smart device when you compare them to the latest Androids, with substantial savings too.

  • $300 for a 8 inch tablet that doesn’t even have a 720p screen? crap

    • Yeah… Only crApple can do that. They can sell whatever they want to, at as high prices as they want to. My guess: this year they come out with a 4:3 ratio 1024×768 iPad Mini, and maybe next year the will make an iPad Mini HD with the same resolution as the iPhone 5. It still won’t be HD, but hey…. they can sell anything to people who want to run iOS.

      • Secondcarpet

        Could not agree more.

  • Nic Gillespie

    Love to know I can stay up to day on all the iOS news on Android Authority…

  • GezzaT

    holy crap that’s some expensive memory, the higher you go up the ladder the harder the nexus 7 pawns it.

  • Crevler