Apple Inc. (NASDAQ:AAPL) launched its long waited and most rumored iPad Mini on Tuesday. Tim Cook, CEO of Apple Inc., introduced a brand new of iPad for providing more buying options to the iPad lovers in the booming tablet market. This smaller version of iPad is designed for competing Microsoft Corp. (MSFT), Amazon.com Inc. (AMZN) and Google Inc. (GOOG) tablets.
The design of iPad Mini is based on anodized aluminum; having similarity with newly launched iPhone 5.The size is small and suitable to keep in hand easily, 7.9 inches across and weighs .68 pounds like a pad of paper, as the officials told that were present at the launching ceremony.
Apple Inc. (NASDAQ:AAPL)’s stock plunged -3.26% in previous trading session after the company launched its iPad mini. So the smaller sized tablet, ipad mini comes at a critical time for Apple. The price of iPad mini started at $329 that was higher than analyst’s predictions.
The iPad Mini’s price is more than as compared to the other tablets already available in the market as the price of Amazon.com Inc.’s Kindle Fire starts at $159.
Apple Inc. (NASDAQ:AAPL)’s started the previous trade with price of $631.00, its shares dropped $20.67 to the closing price of $613.36. The stock fell 13% from the all time high of $705.07 touched on Sept. 21.
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