An invitation for the iPad Mini event will be mailed to the members of the press on October 10, according to reports. The device will allegedly be introduced on the second week of October.

People can expect the announcement of iPad Mini to be just around the corner weeks after the launching of Apple's smartphone - iPhone 5. Apple finally pulled the curtains off its highly anticipated smartphone.

The news reports originated from the prediction of the Jefferies analyst Peter Misek.

"By October 10, Misek said he predicts an invitation for an iPad Mini launch event will be mailed out to the media, followed by the formal announcement of the device by mid-October and culminating with the launch of the iPad Mini at the end of that month," Misek told tech website eWeek.

Tech news agency Digitimes that the iPad Mini is estimated to reach four million units per month starting in September in order to prepare for demand from year-end holidays, according to sources from the upstream supply chain.

The iPad Mini is reported to be the new little iPad will feature a 7.85-inch IGZO display with 330 pixels/inch, 1024 x 768 resolution. It will be more affordable. It is also assumed that the new tablet will feature Apple's upcoming operating system, iO6.

Putting iOS 6 in the mini tablet will include a new, Google-free Maps app, and Passbook, and promises better Facebook integration, better maps, and better video conferences that use cellular data, according to Entrepreneur.com. It is also said to have a smaller dock connector and thinner bezel. It may also feature a music service similar to Pandora radio, WiFi, and Retina Display.

Rumors claimed that iPad Mini will cost around US$299, which is more expensive than its rivals Google Nexus 7 and Kindle Fire HD that starts at US$199.