A new product from Apple is in news again. However, this time its something that will materialize for the first time. The long rumoured Apple iPad Mini is reported to be in mass production in Asia.

One of the suppliers spilled the beans on the new product, as reported by Wall Street Journal. The paper said that LG Display and AU Optronics are making displays for the new and smaller iPad. The secret was spoiled when word got out that the new displays these vendors are manufacturing are smaller in size.

There is confirmation on the exact size of the display but the speculation is that it will be in the neighbourhood of 7.5 inches, as opposed to 9.6-inch display that the current line of iPads boasts. The new tablet is expected to increase the company’s profitability in the consumer market by targeting users that have a casual use for the tablets, book reading and watching movies.

There are no official words on the specification per se, as there is no word on the device itself, but it is expected to be higher in graphics and processor compared to the competition.

The new iPad will take on Amazon’s Kindle Fire HD, released this September, Google’s Nexus, made debut in June, and Barnes & Noble’s Nook Tablet. All these tablets sport 7-inch screens and have great graphics processors with faster CPUs, especially Nexus is worth mentioning here because of the 16-core graphics card installed inside.

However, there is a fear in technology circles that Apple might lose a big chunk of its iPad market share to iPad Mini because of the handy size and lower price. The new iPad Mini is expected to be somewhere in vicinity of 200 bucks, because anything higher would make it a tough sell.

The new tablet is expected to be launched later in October with a release date staged for the holiday season.

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