iPad mini debuts with a surprise 4th gen iPad

The big reveal is here: Apple has introduced an iPad Mini. The new pencil-thin (7.2mm) iPad mini comes a mere half-year after the third generation iPad was introduced. Apple says it's as light as a pad of paper.

It will be priced at $329.

Is it different? Apple says it is not merely a shrunken down iPad. It has a 7.9-inch screen, measured diagonally (vs. 9.7-inches for the larger iPad). That's larger than the 7-inch screens on the Kindle or Nexus 7. The new screen has resolution of 1024 by 768, so all software created for previous iPads will work.

The iPad mini is made of aluminum, as opposed to the plastic that Google's Nexus 7 is made of. Though they had to expect it, I imagine there's an uncomfortable feeling circulating through the executive offices at Amazon and Google.

The new iPad has a dual-core A5 chip. It has FaceTime HD and a 5MP iSight camera. It has LTE wireless as fast as the bigger iPads, and faster Wi-Fi, too. And it has the inevitable Lightning connector (bad news for those of you with lots of iPad accessories based on the prior dock connector). 

Apple says the new smaller iPad has 10-hour battery life, and it retains what is arguably the biggest advantage that Apple claims — the 275,000 tablet apps in the App Store.

"You knew there would be something mini in this presentation," Schiller joked.

— iPad Mini, Wi-Fi only,16 GB , $329

— iPad Mini, Wi-Fi only, 32 GB, $429

— iPad Mini, Wi-Fi only, 64 GB, $529

— iPad Mini, Wi-Fi + Cellular, 16 GB, $459

— iPad Mini, Wi-Fi + Cellular, 32 GB, $559

— iPad Mini, Wi-Fi + Cellular, 64 GB, $659

I think this is going to be a humongous seller — and I suspect the executives at Google, Amazon and Microsoft may be quaking in their boots, especially at the $329 starting price for a Wi-Fi only model with 16 gigabytes or $459 starting prices for 16 GB with Wi-Fi plus cellular. 

The fourth-generation iPad boasts the sharper, Retina display with 2048-by-1536 pixel resolution and a 9.7-inch screen measured diagonally. It has a dual-core A6X chip with quad-core graphics. Apple says that doubles the computing power of the previous-generation iPad. It also has front and back cameras and 10 hours of battery life. It is 9.4 millimeters (0.37 inch) thick and weighs 1.44 pounds. It also comes with the Lightning connector.

— Fourth-generation iPad, Wi-Fi only, 16 GB, $499

— Fourth-generation iPad, Wi-Fi only, 32 GB, $599

— Fourth-generation iPad, Wi-Fi only, 64 GB, $699

— Fourth-generation iPad, Wi-Fi + Cellular, 16 GB, $629

— Fourth-generation iPad, Wi-Fi + Cellular, 32 GB, $729

— Fourth-generation iPad, Wi-Fi + Cellular, 64 GB, $829

Apple's website will start taking advanced orders for the iPad Mini and the fourth-generation iPad on Friday. They will first start shipping and go on sale in stores on Nov. 2.

They will be available in the U.S., Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Korea, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, Singapore, Spain, Sweden, Switzerland and the U.K.