The magicians at Apple have at least one last trick up their sleeve. This time, they will shrink their famed IPAD! The latest version of the IPAD will be an IPAD MINI, a seven inch variety of their original creation. How consumers will use the miniature version is debatable but there is no argument about the demand for such a product. Apple’s founder Steve Jobs, once derided the utility and appeal of 7 inch tablets. However. the Nook Tablet and Kindle Fire have proven that consumers are indeed interested in 7 inch varieties. A great deal of their appeal is in their lower price point. The Kindle Fire and Nook Tablet retail for $199.00. The new Apple iPad Mini will maintain Apple’s premium status at a speculated price point below $300 (but certainly above the Amazon Kindle Fire). The new iPad will arrive in time to compete with similar, new products, arriving from Samsung and Microsoft, which will debut the highly anticipated Windows 8 tablets.