Apple To Release Low-Cost iPad Mini In The $199-$249 Price Range? [RUMOR]

By Binu Paul , Updated Apr 29, 2013 11:25 AM EDT

Apple is reportedly mulling the prospects of launching a budget iPad mini model at a price point somewhere between $199 and $249, according to an analyst.

KGI Securities analyst Ming-Chi Kuo revealed the Apple plan in his recent research note on the Cupertino tech giant's notebook launch plans. Kuo sees iPad mini as the future of Apple's iPad portfolio. However, the company's efforts to bring its signature Retina Display to iPad Mini 2 is believed to be pushing a launch back to the fourth quarter of this year and so, the company is looking at a budget iPad mini, Mac Rumors reports.

"Prior to iPad mini 2 launch, Apple might roll out a more affordable iPad mini to compete with Android products. To cut costs, Apple might push for lower component prices, use a more advanced process to produce the A5 processor, simplify metal casing production, remove the rear camera, cut storage to 8GB and find more component suppliers to lower costs. We think this cheaper iPad mini retail for $199~249," Kuo writes in his research note.

If his prediction comes true, it would be no great surprise for Apple fans who are already expecting a budget iPhone. Even the price range would come as no surprise as it was the same range customers were hoping for iPad mini when Apple released the smaller version of its flagship tablet with a much higher tag starting at $329.

However, Kuo sees a relatively slow iPad sales growth in 2013 for various reasons including that the full-size iPad is still being cannibalized by the popular iPad mini and that the next-generation iPad mini with Retina Display would not debut until late this year.

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