The company is developing a new tablet with a 7.85-inch screen that is likely to sell for significantly less than the latest $499 iPad, with its 9.7-inch display, according to several people with knowledge of the project who declined to be named discussing confidential plans. The product is expected to be announced this year. Apple’s plan for a tablet with a smaller screen is part of a textbook business strategy: to lure customers who want different sizes of tablets into the iPad product family, say analysts and technology industry executives.As you see iPad Mini release date can really take place this October together with iPhone 5, iOS 6 and many other technical novelty. It has to be this fall. There is no time to wait because people that are going to buy some device they can choose cheaper Nexus 7, Amazon Kindle Fire or even Surface from Microsoft. So Apple need to hurry up and release iPad Mini this fall.