Apple 'set to reveal iPad mini'

Apple is set to reveal a smaller, cheaper version of the iPad at an event on October 23, according to reports.

The reports from Bloomberg News, Reuters and the AllThingsD blog are based on unnamed sources "familiar with the plans".

Apple has not said anything about a smaller tablet, a concept company founder Steve Jobs derided two years ago, but company-watchers have assumed for months that an "iPad mini" will appear before the Christmas season.

The screen is reportedly about half the size of the iPad's, which measures 9.7 inches diagonally. Analysts speculate the starting price of the device could be about 299 US dollars (£186).

With the device, Apple could close an opening in the tablet market for rivals like Amazon, whose Kindle Fire is half the size of the iPad and starts at 199 dollars (£123). Google and Barnes and Noble also sell tablets in the same size and price range.

Apple's event would occur three days before Microsoft releases Windows 8, the new version of its operating system. Microsoft will be releasing its Surface tablets with the software.