Bloomberg reports iPad Mini will be launched in October

These iPad Mini rumors are gaining steam. We’ve had a few credible sources along the way report that the iPad Mini is surely coming. The latest comes from the highly reliable Bloomberg. Earlier today we had confirmations from analysts, now the story is a bit different.

Bloomberg has received word from people with “knowledge of the plans,” that Apple would be releasing a tablet 7 to 8 inches in size.

“The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple has’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, one of the people said.”

Now that the long-rumored iPad Mini has a release date and size estimate, the price is the lone detail left out. According to past reports the price should come to be under $299, this way it can compete with counterparts such as the Nexus 7 and Kindle Fire.

If you think of it this way, consumers that are willing to spend $199 would be highly likely to spit out another $50 to $100 for a iOS powered device. Apple is highly recognizable in the tablet market, in fact the iPad accounts for 60 percent of all tablets in the world.

The funny part about this report is that some people have said Apple leaked this out themselves via the highly reliable Bloomberg to alert Nexus 7 buyers that a cheap iPad would soon be released.

Thoughts? Would Apple really like this out themselves?