We’re just one day away from the rumored iPhone 5 announcement, and now the focus is shifting to another highly anticipated Apple gadget: the iPad Mini.

The iPad Mini is rumored to be a smaller version of the iPad, that was designed more or less to compete with the Amazon Kindle Fire. Now we got mockup photos of the gadget from Nowhereelse.fr, a tech website from France.

The first image was spotted on Dgtle.com, and it was originally intended to show the iPad Mini accessories. It is still unclear if these purported images are supposed to represent the smaller iPad. Apple has yet to comment on the matter.

Thanks to the huge influx of rumors, it’s highly speculated that Apple will release a mini version and why not? They already dominate the tablet market with their current tablets, so why not take over a smaller, but nonetheless important segment of the market and deliver a tablet made for the budget conscience consumer. It is speculated that the iPad Mini will come out sometime later this year, most likely before the holiday shopping season begins.

If it is indeed true that the iPad Mini is currently in the works of being developed, only one key question remains: how would this potential product effect sales of the larger version? The only real concern is that the iPad Mini will prove to be nothing more than a smaller, more limited version of the iPad and it will fail to sell as well.  I’m not sure people will favor a more limited version of something they already own, and I  really doubt people who are shopping for a tablet will opt for a limited version of a tablet when they can purchase another budget tablet that has everything they need. Of course, I could be wrong about everything and the iPad Mini could go beyond expectations. In previous articles (LINK), we noted that analysts expect less iPhone 5 sales if an iPad mini is in fact released.