Apple Launches Two New iPads

Will offer 4^th generation iPad with faster processor and a smaller iPad Mini

By George Winslow -- Broadcasting & Cable, 10/23/2012 2:25:06 PM

Apple has announced two new iPads, a faster fourth generation iPad, with the traditional 9.7 inch retina screen, and a smaller less pricy iPad mini tablet, with a 7.9 inch screen.

The new fourth generation iPad will be start at $499 for a 16GB, WiFi version and will offer a faster processor. It will offer twice the graphics performance which will provide notable improvements for app developers.

The iPad mini is 7.2mm thick, which Apple says is as thin as a pencil, weighs only 0.68 pounds and has a 10 hour battery life.

It does not have a retina display, which is available in the third and fourth generation iPads, but does support 4G in some of its version.

The 7.9 inch screen size is good news for developers because it means they will not have to redesign iPad apps for the iPad mini.

Pricing will start at $329 for 16 GB and WiFi version. That is Apple's least expensive iPad, but it is more costly than the Kindle Fire and tablets from other competitors, which can be bought for under $200.

Pre-orders will begin Oct. 26 and WiFi versions will start shipping Nov. 2.

Tablet sales have consistently exceeded analyst expectations. In July, the CEA bumped up its tablet revenue forecast made in January by 10.8 billion to $29.1 billion in 2012.

The new smaller tablets could once again increase that demand in the run-up to the holiday season.

During the presentation, the company noted that it has passed the 100 million mark in iPad sales and that iPads now account for 91% of the web traffic from tablets. About 94% of the Fortune 500 companies are using or testing iPads.

The launch will prose increased competition from Amazon, Barnes & Noble and others that are offering smaller, less costly tablets. But the iPad mini is still more expensive than other small tablets and it remains to be seen whether the less expensive iPad mini will cannibalize sales of Apple's larger more expensive iPads.

Also during event, Apple announced new Mac computer products, including a new iMac and a new 13 inch MacBook Pro that weighs only 3.75 pounds.

It also noted that there were over 700,000 apps in the App Store, and 275,000 of those are iPad apps. These apps have been downloaded some 35 billion times.

Also more than 400 million books have been downloaded via iBooks app.