iPad Mini Rumors: Release Scheduled for Oct. 23?

The latest iPad Mini rumors point to Oct. 23 unveiling for the device.

The date was confirmed by Reuters, who stated that Apple hopes to upstage Microsoft, who will be launching the new Windows 8 powered Surface Tablet on Oct. 26.

The long-rumored iPad Mini was reportedly seen by a Wall Street analyst while he visited component suppliers in Asia.

"We actually had the opportunity to play with a pilot iPad Mini used by one of the vendors," said Topeka Capital analyst Brian White. "This 7.85-inch iPad Mini fit our hands like a glove and we were easily able to tuck the device in our sport coat, offering consumers a more mobile iPad experience."

The new iPad Mini will feature a 7.85-inch screen and will be priced to compete with the 8GB Google Nexus 7 tablet and the Amazon Kindle Fire HD, which both sell for $199.

AllThingsD also confirmed this special media event, where Apple will introduce the public to the smaller tablet device.

The company still has not confirmed the media event or its location, however; it is likely to be taking place at Apple's Town Hall auditorium at its corporate headquarters in Cupertino, Calif.

AllThingsD functions as a technology blog for The Wall Street Journal, so its reports are fairly reliable. The publication also has a good track record when it comes to predicting dates for Apple media events.

The Wall Street Journal also stated in a report last week that Asian component suppliers have started mass production of a new tablet computer that is smaller than the current iPad. It also claims to have received this information from a source on the inside.

It also states that LG and AU optronics are making the 1024 x 768 7.85-inch display for the device and started production on the component last month.