The new device starts at $329, way above competition tablets
SAN JOSE, Calif. — Apple Inc. is refusing to stoop to the level of its rivals in the tablet market — it’s pricing its new, smaller iPad well above the competition.
On Tuesday, the company revealed the iPad Mini, with a screen that’s about two-thirds the size of the full-size model, and said it will cost $329 and up.
Apple starts taking orders for the new model on Friday, Oct. 26, said marketing chief Phil Schiller at an event in San Jose, Calif. Wi-Fi-only models on Nov. 2. Later, the company will add models capable of accessing “LTE” wireless data networks.
The price fits into the Apple product lineup between the iPad 2 at $399 and the latest version of the iPod touch at $299. But company watchers had been expecting Apple to price the iPad Mini at $250 to $300 to counter the threat of less expensive tablets like Amazon’s Kindle Fire, which starts at $159.
Apple shares fell $14.83, or 2.3 percent, to $619.20 when the price was announced. Shares of Amazon.com Inc. were down 12 cents, or less than 0.1 percent, at $233.66 while the rest of the stock market was in retreat.
The iPad mini weighs 0.68 pounds, half as much as the full-size iPad, and is as thin as a pencil, Schiller said.
The screen resolution is 1024 by 768 pixels, the same as the iPad 2 and a quarter of the resolution of the third-generation iPad. Like the iPad and iPhone, it has two cameras, one on the front and one on the back.
“It’s not just a shrunken-down iPad, it’s an entirely new design,” Schiller said.
Company watchers have been expecting the iPad Mini for a year, and most of the details, except the price, had leaked out. More surprisingly, Apple also said it’s upgrading its full-size iPad tablet just six months after launching a new model, doubling the speed of the processor. Previously, the company has updated the iPad once a year.
The fourth-generation iPad will have a better camera and work on more “LTE” wireless data networks around the world. Apple is also replacing the 30-pin dock connector with the new, smaller “Lightning” connector introduced with the iPhone 5 a month ago.
The price of the new full-size model stays the same as the previous version, starting at $499 for a Wi-Fi-only version with 16 gigabytes of memory.
Apple has sold more than 100 million iPads since April 2010.
Svensson contributed from New York.
More Related Stories
- Teenagers care more about online privacy than you think
- The Maker kids are alright
- Radio host tweets rape joke, blames journalists for reporting on it
- Cyber attacks could cause the next world war
- Snapchat is secretly storing your photos
- Apple's biggest sin: Popularity
- Facebook's hate speech problem
- Amazon set to launch fine-art gallery
- Twitter torches Dan Brown's "Inferno"
- Looting in Oklahoma?
- Wikipedia cleans up its mess
- You are less beautiful than you think
- Should wunderkinds be allowed to drop out of high school?
- Don't cry climate-change wolf
- Apple uses foreign companies to avoid billions in taxes
- Gitmo hunger striker launches Twitter campaign
- How to screw up Tumblr
- Yahoo shells out $1.1 billion for Tumblr
- Chinese hackers resume attacks against U.S.
- Must-see morning clip: Facial recognition software identifies "faceprints"
- Facebook "like" on trial in Virginia
Featured Slide Shows
The week in 10 picsclose X
- 1 of 11
Lisa Montgomery embraces her nephew Thursday after a tornado tore apart her home in Cleburne, Texas. The twister killed six people and destroyed entire swaths of the North Texas town.
Credit: AP/LM Otero
Jack McMahon, the defense attorney for abortion doctor Kermit Gosnell, speaks outside the Criminal Justice Center in Philadelphia Tuesday. His client was convicted of killing three babies in his clinic, and will serve multiple life sentences.
Credit: AP/Matt Rourke
A photo taken Monday captures Vice President Joe Biden's response to a Milwaukee second-grader's innovative proposal to end America's epidemic of gun violence. This guy!
Credit: AP/Jenny Aicher
Sen. Rand Paul, R-Ky., flanked by a grouper-eyed Michele Bachmann, addresses the IRS' admission that it targeted Tea Party groups in advance of the 2012 election. In an op-ed for CNN Thursday, the Kentucky senator slammed the president for his faux outrage.
Credit: AP/Molly Riley
Ousted IRS chief Steven Miller is sworn in on Capitol Hill Friday. Miller testified before the House Ways and Means Committee on the extra scrutiny the agency gave conservative groups applying for tax-exempt status.
Credit: AP/J. Scott Applewhite
Attorney General Eric Holder pauses as he testifies on Capitol Hill before the House Judiciary Committee Wednesday. Holder is under fire, among other things, for the Justice Department's gathering of phone records at the Associated Press.
Credit: AP/Carolyn Kaster
O.J. Simpson sits during an evidentiary hearing at Clark County District Court in Las Vegas, Nev., Thursday. Simpson, who is currently serving a nine-to-33-year sentence in state prison for armed robbery and kidnapping, is using a writ of habeas corpus to seek a new trial.
Credit: AP/Las Vegas Review-Journal/Jeff Scheid
Major Tom to ground control: On Sunday astronaut Chris Hadfield recorded the first music video from space, a cover of David Bowie's "Space Oddity."
Credit: AP/NASA/Chris Hadfield
When it rains it pours. President Barack Obama speaks during a news conference Thursday with Turkish Prime Minister Recep Tayyip Erdogan, inexplicably inspiring an #umbrellagate Twitter meme.
Credit: AP/Jacquelyn Martin
A smoke plume rises high above a road block at the intersection of County A and Ross Road east of Solon Springs, Wis., Tuesday. No injuries were reported, but the the wildfire caused evacuations across northwestern Wisconsin.
Credit: AP/The Duluth News-Tribune/Clint Austin
Recent Slide Shows
- 1 of 11