Is a $300 iPad Mini around the corner?

iPad Mini would compete with Amazon's Kindle Fire

It's never a dull day at Apple. Just last week the company launched the iPhone 4S. Now, it may soon be serving up a new iPad. No, not an iPad 2 - the iPad 2 just launched in March at a pricetag of $499. But rather an iPad Mini.

Such a product has been rumored for some time across the blogosphere. But now it could hit virtual shelves by early next year, according to Brian White, a Ticonderoga Securities analyst, who shared the news with Business Insider. We've reached out to White for more details.   

The iPad Mini, as he calls it, would be the same size as the present iPad versions on the market but would be cheaper, and less powerful. It's expected to be released in Q1, with the release of iPad 3 in Q2.  

White was first told of the iPad Mini while talking to suppliers and manufacturers in China and Taiwan. Considering where and how White picked up this tidbit, this news could simply be another rumour coming out of the Apple rumour mill, which swirls around anything Apple at all times.

But it wouldn't be a surprise if there's some truth to these rumors. After all, Apple is not the only maker of tablets that matter anymore. The playing field changed when Amazon introduced Kindle Fire this past September.  The Kindle Fire, priced at $200, may not be as snazzy as the iPad, but at more than half the price of the cheapest iPad and with full access to Amazon content, it is making the tablet landscape a bit more competitive.

How hot is the Kindle Fire? EDataSource, a provider of online competitive intelligence, estimates the Kindle Fire sold 95,000 units the first day it was available for pre-order through Amazon’s site.