We won’t see a new iPad Mini from Apple Inc. (NASDAQ:AAPL) this year, according to KGI Securities analyst Ming-Chi Kuo. He believes that we’ll see not just the iPad Mini with Retina display but also a less expensive iPad Mini in either March or April.

Apple iPad Mini

Kuo explains his less expensive iPad Mini vision for Apple

In a research note issued to investors, Kuo said the earliest launch date we might be able to expect for a less expensive iPad Mini would be December, although he sees early next year as being the more likely time frame. He cites his reason for this view as being the production status of the iPad Mini model, which he also doesn’t think will be much less expensive than the current iPad Mini model, which starts out at $329.

According to Kuo, Apple Inc. (NASDAQ:AAPL) will likely push the launch of the less expensive iPad Mini back to early next year because the launch can’t happen before December and because the price won’t be much different. As a result, he believes the company will hold the device until it can launch alongside the iPad Mini with Retina display.

What’s holding up the Retina display?

Kuo reports that the Retina display is causing problems for Apple Inc. (NASDAQ:AAPL), which is why it won’t be out this year. This report sounds very similar to the display problems the company was reportedly having with the next iPhone as well.

He said in his investor note that Apple Inc. (NASDAQ:AAPL) had to redesign all of the components for the iPad Mini in order to get it to work with a Retina display because the display consumes large quantities of power. Kuo issued another report about these problems earlier this month.

In case you’re wondering, Apple Insider’s Neil Hughes reports that Kuo has a pretty solid track record when it comes to predicting what Apple Inc. (NASDAQ:AAPL) is doing. Kuo did say in May that the next iPhone would be out this month and have a fingerprint sensor. However, recent reports indicate that the fingerprint sensor is also causing problems for Apple Inc. (NASDAQ:AAPL).