By James Paladino ( | First Posted: Nov 04, 2012 08:26 PM EST

Apple's Phil Schiller introducing the iPad mini in October 2012. (Photo : Reuters)

The iPad mini is finally in consumers' hands, but how much did it cost to produce?

According to IHS, the 16GB WiFi mini's manufacturing price fell at $188, the 32GB at $278, and the 64GB at $350.

Apple has a long history of selling its products at a premium, and the iPad mini is no different. The Cupiterno tech company offers two tiers of prices for the 16, 32, and 64GB versions of the device. The Wifi-only versions sell for the following prices: the 16GB costs $329, the 32GB costs $429, and the 64GB costs $529.  The Cellular-enabled devices cost $459 for 16GB, $449 for 32GB, and $659 for 64GB.

CNET reports that the touch-screen display was provided by AU Optronics and LG Display, while Hynix Semiconductor produced the flash memory, Elpida crafted the system memory, Cirrus Logic created the audio chip, and STMicroelectronics added their accelerometer to the tablet.

Apple's latest tablet offering features a Dual-Core A5 Prcoessor, Bluetooth 4.0 wireless technology , a 7.9-inch diagonal LED-backlit Multi-Touch display with IPS technology, a 1024 x 768, fingerprint-resistant coating, a front-facing 1.2 Facetime HD camera, and a 5-megapixel iSight Camera.

The iPad mini has, by and large, been a critical success.

Engadget's review states, "This is, in many ways, Apple's best tablet yet, an incredibly thin, remarkably light, obviously well-constructed device that offers phenomenal battery life. No, the performance doesn't match Apple's latest and yes, that display is a little lacking in resolution, but nothing else here will leave you wanting.

AllThingsD writes, "Every app that ran on my larger iPad ran perfectly on the mini. I was able to use it one-handed and hold it for long periods of time without tiring. My only complaints were that it's a tad too wide to fit in most of my pockets, and the screen resolution is a big step backwards from the Retina display on the current large iPad."

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