As we know, on October 23rd, Apple Inc. (NASDAQ:AAPL) might be launching the much rumored, smaller and affordable iPad Mini. What we did not knew till now is its pricing. Many rumors suggested that the pricing of iPad Mini will be around $300 to $350 and now according to 9to5Mac, the base model of the upcoming iPad Mini will cost $329. Apart from the entry level model, there will be two higher capacities of smaller iPad in the WiFi only configuration priced $100 more and the minimum prices can be at $429 and $529.

apple ipad mini

The rumored iPad Mini will come with Apple’s dual-core A5 processor, 7.85-inch screen with 1024 x 768 resolution, new Lightning dock connector and the redesigned nano-SIM tray in cellular models. Since Apple Inc. (NASDAQ:AAPL)’s iPad Mini is a scaled down version of the full sized iPad, we knew that it was going to cost less than the full sized iPad but it won’t be as cheap as the Nexus 7. Nexus 7 costs $199 for 8GB version and we don’t think that Apple will be launching iPad Mini at such a price point.

Recently, we also got a report stating that iPad Mini will arrive in 16 different memory and wireless configurations, in black as well as white color. Talking about storage capacities, then it will come with four different capacities – 8 GB, 16 GB, 32 GB and 64 GB.

The cellular models will cost a $130 premium over the corresponding storage capacity in the WiFi-only line. The prices of cellular models can be $459, $559, and $659.

We’re hoping that this smaller iPad will be announced at the October 23rd event and it will be available on Friday, November 2nd. But does it really makes sense to buy iPad Mini, when we have 4-inch iPod touch? This question is a matter of debate that many people have discussed in recent times.

Apple Inc. (NASDAQ:AAPL) is going to cash in this holiday season by releasing the iPad Mini at this time. Since this device is going to cost $329, Apple Inc. (NASDAQ:AAPL) won’t be competing with $199 entry level price of Google’s Nexus 7 and $159 price of Amazon’s Kindle Fire. Can Apple Inc. (NASDAQ:AAPL) convince us to buy this gadget? For now, we can only wait for next week’s event.