By Michael Oleaga / m.oleaga@latinospost.com (staff@latinospost.com) | First Posted: Jun 25, 2013 02:20 PM EDT

A research institute is projecting Microsoft will launch a smaller and less expensive tablet during the fourth quarter of 2013.

According to Focus Taiwan, Topology Research Institute stated on Tuesday that the Windows 8-based tablet will to be called the "Surface mini." The smaller tablet is also expected to feature a touchscreen display of 7.5 to 8 inches.

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Topology analyst Maxwell Change, during a media briefing, stated the Surface mini will be powered with the Intel Atom microprocessor and priced at $299.   

"Microsoft is likely to aim at taking on the iPad mini because it knows it is hard to compete with Android tablets in terms of price," said Chang.

The report noted Microsoft has been in discussion with two or three Taiwanese manufacturers to produce the new Surface tablet.

The speculation for the Surface mini comes about a week after reports on the next series of regular-sized Surface tablets surfaced. As Latinos Post reported, sources have claimed the next Surface tablet will be based on Qualcomm's Snapdragon processors.

Topology's data concluded that 161 million tablet units would be shipped worldwide this year, an increase of 42 percent from the 113 million units during 2012.

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