KING5.com
Posted on October 23, 2012 at 6:17 AM
Updated today at 12:12 PM
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Is Apple going overboard with releasing new products?
SAN JOSE, Calif. -- Apple Inc. is refusing to stoop to the level of its rivals in the tablet market --it's pricing its new, smaller iPad well above the competition.
On Tuesday, the company revealed the iPad Mini, with a screen that's about two-thirds the size of the full-size model, and said it will cost $329 and up.
Apple starts taking orders for the new model on Friday Oct. 26, said marketing chief Phil Schiller at an event in San Jose, Calif. Wi-Fi-only models on Nov. 2. Later, the company will add models capable of accessing "LTE" wireless data networks.
The price fits into the Apple product lineup between the iPad 2 at $399 and the latest version of the iPod touch at $299. But company watchers had been expecting Apple to price the iPad Mini at $250 to $300 to counter the threat of less expensive tablets like Amazon.com Inc.'s Kindle Fire, which starts at $159.
Apple shares fell $14.83, or 2.3 percent, to $619.20 when the price was announced. Shares of Amazon.com Inc. were down 12 cents, or less than 0.1 percent, at $233.66 while the rest of the stock market was in retreat.
The iPad mini weighs 0.68 pounds, half as much as the full-size iPad, and is as thin as a pencil, Schiller said.
The screen resolution is 1024 by 768 pixels, the same as the iPad 2 and a quarter of the resolution of the third-generation iPad. Like the iPad and iPhone, it was two cameras, one on the front and one on the back.
"It's not just a shrunken-down iPad, it's an entirely new design," Schiller said.
Company watchers have been expecting the iPad Mini for a year, and most of the details, except the price, had leaked out. More surprisingly, Apple also said it's upgrading its full-size iPad tablet just six months after launching a new model, doubling the speed of the processor. Previously, the company has updated the iPad once a year.
The fourth-generation iPad will have a better camera and work on more "LTE" wireless data networks around the world. Apple is also replacing the 30-pin dock connector with the new, smaller "Lightning" connector introduced with the iPhone 5 a month ago.
The price of the new full-size model stays the same as the previous version, starting at $499 for a Wi-Fi-only version with 16 gigabytes of memory.
Apple has sold more than 100 million iPads since April 2010.
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Apple is introducing a new 13-inch MacBook Pro laptop that has a "Retina" display, with four times the resolution of the previous model.
The new model follows a 15-inch MacBook Pro with a Retina display introduced this summer, and will start at $1,699. Apple's marketing chief Phil Schiller said it will go on sale immediately.
The old MacBook Pro will still be sold, starting at $1,199.
The new model dispenses with an optical drive and a traditional hard drive. Instead, it uses solid-state "flash" memory. This makes it 20 percent thinner and at 3.75 pounds, nearly a pound lighter than the previous model.
Apple revealed the new computer at an event in San Jose, Calif., where it also revealed a smaller iPad and updated the full-sized one.
Source: http://www.king5.com/home/What-will-the-smaller-iPad-cost-Apple-unveils-today-175396561.html
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