Reports: Apple to reveal smaller iPad on Oct. 23, taking on Kindle and Nook

The Associated Press

Several reports say Apple is set to reveal a smaller, cheaper version of the iPad at an event next Tuesday.

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

Apple Inc. hasn't said anything about a smaller tablet, a concept company founder Steve Jobs derided.

But company watchers have assumed for months that an "iPad mini" will appear before the holidays.

The screen is reportedly about half the size of the iPad's. Analysts speculate the starting price of the device could be about $299.

With the device, Apple could close an opening in the tablet market for rivals like Amazon.com Inc., whose Kindle Fire is half the size of the iPad and starts at $199.