The iPad Mini may become the hottest item this upcoming holiday season. On Monday,  Apple Inc. (NASDAQ:AAPL) sold out their entire inventory of iPad Minis during the pre-sales.

iPad Mini

Just a few weeks ago, Apple Inc. (NASDAQ:AAPL) introduced their highly anticipated the iPad Mini as an alternative to lower-priced Android tablets, like the Kindle Fire and Barnes & Noble Nook.

Jeff Garnet from The Mac Observer mentioned the following news, “Apple finally sold through all of its iPad mini preorder inventory Monday morning. The company quickly sold out its white iPad mini inventory on preorder launch day last Friday, but its black models held out until today.”

The iPad Mini starts at $329 and features a 7.9 inch display, A5 chip, FaceTime HD camera, and iSight camera with 1080p HD video.

Darrell Etherington from TechCrunch also elaborated, “”How does that compare with previous product launches? Well, the initial stock of iPhone 5s sold out in just about an hour, but pre-orders of the 3rd generation iPad with Retina Display released in March took a couple of days to sell out completely. Apple Inc. (NASDAQ:AAPL) began taking pre-orders the day it unveiled the ‘new iPad’ on March 7, and they were out of initial stock by March 9. In other words, the iPad mini seems to be on pace with Apple’s tablet sales standards so far, though we won’t know about how much stock was available at launch for at least a little while yet.”

This is just the beginning for Apple’s iPad Mini. The product provides a lower-priced alternative for budget-conscience shoppers. There is little doubt that Apple Inc. (NASDAQ:AAPL) will sell more iPad Minis this upcoming holiday season than their competitors will sell of cheap Android tablets.  The fact that Apple Inc. (NASDAQ:AAPL) released a lower-priced tablet means they actually pay attention to competition. They know that not everyone is willing to spend $500 on a tablet computer, and that’s why they created a tablet for that segment of the market.