Apple’s much rumoured iPad Mini will be a 7in Retina Display tablet out this October. This comes from a source of iMore who also claims the price will be a meager US$200-250.

With Apple swimming in its own sea of cash, and a need for a similar control of the iPad market that it managed with the MP3 market, it may even sell the iPad Mini for a meager profit.

The source indicated that the 7in iPad would be identical to the 9.7in current iPad, meaning a 2048×1536 resolution in a 7in screen – delivering an iPad beating 365ppi. We’re taking this with a handful of salt, but the 8GB (only) 7in iPad Mini in October would be a very welcome pre-Christmas present.

Via The Wall