Update: Despite rumours suggesting that Apple would be dishing out invites to the launch of the iPad Mini on Wednesday, nothing landed in our inboxes. However, there's still hope, as the minature tablet is expected to land on October 17. We're yet to hear about any major updates but will keep you posted as and when we do.

iPad Mini: When is it out?

Apple is expected to whip the covers off the iPad Mini in weeks, specifically, on October 17, to fend of competition from rival firms, including Amazon, Barnes and Noble and Google, which launched the Google Nexus 7 tablet a few months back.

At first, critics found it hard to believe that Apple would launch a mini slate, simply because its late leader, Steve Jobs, openly criticised them. But with 7-inch tablets performing extremely well in terms of sales recently, it's believed the Cupertino-based firm may have had a change of heart.

The rumours emerged just weeks after Barnes and Noble launched its Nook range of tablets, while online retailer Amazon is gearing up to launch its new Kindle Fire tablets at the end of the month. The iPad Mini is expected to be available in shops from November 2 in time for the pre-Christmas rush, priced between £150-£200.

iPad Mini: How much will it cost?

Chinese sources claim that the miniature iPad will be priced at around $250-$300 (£156-£187 respectively). Apple devices are notoriously expensive, so the launch of a cheap(er) tablet is a clear indication that the San Francisco firm is pulling out all the stops to ensure Amazon doesn’t steal its tablet crown.

Some analysts also believe the launch of a mid-sized tablet will fend off competition from the likes of Samsung and Microsoft, both of which have been very active in their pursuits to overtake the world’s biggest company. Analysts claim Apple stands to gain about $100 in profit for each tablet sold. That figure is based on a calculation of its potential innards, with the screen costing the most at $49.54.