Mini Apple iPad to be unveiled on October 17 according to reports

According to recent reports, Apple will be showcasing a new iPad Mini on the 17^th of October, 2012. If Apple holds to past practice, it may put the new iPad up for sale on November 2, 2012. In the past Apple have been known to unveil a new product and release it to the public within two weeks of its introduction.

Philip Elmer-DeWitt, a Fortune columnist, first hinted at the release in his column referring to a source that DeWitt referred to as a major Apple Investor. The presumption of the October 17 unveiling was made following news of a iPad Mini launch event invitation that would be sent out on October 10^th.

According to Brian White, who is an analyst with Topeka Capital Markets, the timing of the news of the new Apple product coincides with the holiday season and the rough timeframe that people expected the product to be released. This also follows the trend of the iPhone 5 being released 2 weeks after it’s unveiling. White also estimated that the new iPad Mini could take a market share of the iPad as people would opt for the cheaper Mini model. This cannibalism could lead to a 10%-20% market loss for the iPad units; however in the bigger picture Apple is always the winner.