Digitimes have reported that Apple [AAPL] are working on a mini iPad and are planning to launch it in the first quarter of 2011.
They also go on to say that the mini iPad will have a 5 to 7 inch screen and be priced below $400 when launched.
Kuo, citing talks with upstream component sources, said Apple's smaller-size iPad will be priced below US$400 and will target the highly-portable mobile device market and consumers that focus mainly on reading and do not have a high demand for text input.
It's not really news I expected to read as many are claiming that the Apple iPad is just a large iPod Touch. I guess we could just reverse that and say that Apple are working on creating a large iPod Touch with a 5 to 7 inch screen. I guess they do need to meet in the middle somewhere though and with the iPad being new, it wouldn't surprise me if it was branded as an iPad mini.