iPad Mini Release Date and Price Rumors; Device To Recycle Old iPad 2 Hardware

A journalist films with his iPad as Maldives' former President Nasheed addresses a news conference in Male (Photo : Reuters)

Device codes for the much-rumored iPad mini have emerged online, lending further credence to its impending release.

Istapaper developer Marco Arment's logs revealed two new device stats: one for an iPad2,5 and another for an iPad2,6. According to Arment, the code names "iPad2,1" and "iPad2,3" stood for the prior iterations of the iPad 2, including the Wifi and GSM and CDMA models. The code "iPad2,4" indicated the discounted version of the iPad 2 that was released in March.

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Instapaper is a service that allows users to save articles, so that they may read them later.

The appearance of "iPad2,5" and "iPad2,6" indicate a new iPad on the horizon.

Arment believes that the "likely explanation is that iPad2,5 and iPad2,6 are the new 'iPad Mini' in Wi-Fi and GSM, and I haven't recorded the likely iPad2,7 CDMA version yet," according to Mac Rumors.

The developer suggests that "the iPad mini is, effectively, an iPad 2: an A5 with 512 MB of RAM and enough GPU power to drive (a 7.85-inch display with 1024 x 760 resolution), but not Retina Display."

He believes that Apple plans to "sell the last generation's hardware at a lower price point to expand marketshare."

Speculation suggests that the iPad 2 will feature a potential $249 price point.

Analyst Rhoda Alexander of HIS iSuppli states that an iPad mini price of $299 "would sit in a more comfortable place as far as profit."

However, an 8GB, wifi enabled entry-level model of the iPad mini has the potential to "crush the opposition (Nexus 7/Kindle Fire)," she added. Alexander suggests that a higher end model could sell for $349.

In terms of a release date, IBTimes predicts an October launch.