Apple shares continue to slide despite today's announcement of the much-hyped iPad "mini" and the 4th generation iPad. Apple CEO Tim Cook and Sr. VP Phillip Schiller revealed the new gadgets at an Apple event in San Jose, CA.
The iPad mini tablet, which goes on sale Nov. 2, will go head to head with gadgets from Apple rivals Microsoft and Google. The 7.9 in. mini tablet is as light as a pad of paper and thinner than the iPad.
Apple touts the new device's A6X processor chip and wider support for LTE wireless technology. But before he died, Apple founder Steve Jobs predicted the failure of the iPad mini because he thought the tablets were too small.
"Others have tried to make tablets smaller than the iPad, and they have failed miserably," said Schiller, who justified the tablet's high price as "different" from its competitors.
"Competitors are making compromises with their products," he said. "We don't."
The iPad mini starts at $329 for the 16 GB version with Wi-Fi. There is also a 32 GB model for $429 and $529 for a 64 GB model. The Wi-Fi only models ship on Nov. 2. The 4G Wi-Fi model starts at $459 for 16GB, $559 for 32GB, and $659 for 64GB. The latter models go on sale Nov. 16.
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