Brian White, an analyst at Ticonderoga Securities, has suggested that Apple is currently working on a low cost iPad.

ipad 3,mini ipad,apple,gadgets

Brian thinks that the new iPad will be named the ‘iPad Mini’, the size of the tablet will remain the same but the price will probably be around $250-$300.

Apple is expected to release the iPad 3 early next year and along with it, they might release the purported iPad Mini. Apple’s new and improved iPad will possibly be much faster. I can confidently say this because if Apple can incorporate a 1GHz dual-core processor in the iPhone then it would be much easier to incorporate an even faster processor in the much bigger iPad 3.

White possibly got this news while he was on tour to China and Taiwan to meet different suppliers and smartphone manufacturers.

The iPad Mini could well become the possible beater of the Amazon Kindle Fire. Maybe that is the reason why Apple wants to release a cheaper tablet; to get the low earners a thing to play with. Meanwhile, Brian White also thinks the iPad Mini is going to be released in the first quarter of the next year while the iPad 3 will be out in Q2.

Lets wait and see what Apple has in store for us in 2012.

[via BusinessInsider]