Bloomberg has just published a report in which it argues that a smaller, seven to eighth-inch “iPad mini” could launch as soon as October. For a while now, similar rumors have been hitting the Web and Bloomberg’s report offers little new, claiming that the new iPad will sport a 1024 x 768 display - not the Retina display offered by the third-generation iPad.

In a similar report from iMore, it’s claimed that the smaller tablet will retail between $199 and $249, and will thus be placed in direct competition with Google’s Nexus 7 tablet.

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