Apple’s special iPad mini keynote event scheduled for today is expected to unveil all-new smaller iPad. The new “iPad mini” is rumoured to feature a 7.85 inch screen with 1024-by-768-pixel resolution at 132 pixels per inch (ppi), the same as iPad 2.

The company’s move to introduce a smaller version of the iPad will help iOS penetrate the ebook reader market and compete with the Kindle devices. Apple is widely expected to announce iBooks 3.0 and the announcement of iPad mini could be closely tied to Apple’s education initiatives. The iPad mini will also feature front and rear facing camera, lighting connector and could come in different colors.

According to recent reports, the entry level model of iPad mini is expected to be priced at $329. The new device could prove to be ideal for schools and those who want a tablet put prefer a smaller screen.

Steve Jobs was opposed to the idea of a smaller screen tablet however many believe that it was Eddy Cue who saw the potential of a smaller screen tablet that could help push iOS deeper in education market.

Unlike iPhone 5 media event, Apple will be live streaming the video of the iPad mini keynote event on Apple.com and via Apple TV, the event will kick off at 10 am PDT.

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