Wednesday, October 24, 2012

Apple introduces pencil thin iPad Mini to counter Amazon's Kindle Fire

Apple Inc will begin to sell an almost 8-inch version of the iPad on Friday to compete with Inc's Kindle and other smaller tablets, but it set a higher-than-expected price tag of $329 that Wall Street fears could curb demand.

The 7.9 inch "iPad mini" marks the iPhone-maker's first foray into the smaller-tablet segment. Apple hopes to beat back incursions onto its home turf of consumer electronics hardware, while safeguarding its lead in a larger tablet space - one that even deep-pocketed rivals like Samsung Electronics have found tough to penetrate.
Priced at $329 for a wi-fi only model, the iPad mini is a little costlier than some predicted. Others fear the gadget will lure buyers away from Apple's $499 flagship 10-inch iPad, while proving ineffective in combating the threat of Amazon's $199 Kindle Fire and Google's Nexus 7, both of which are sold at or near cost.

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