With Google’s recent announcement into the tablet market with their smaller-sized Nexus 7, word is Apple is now working in a smaller, cheaper iPad to compete and help them maintain dominance in the market altogether.

According to Bloomberg.com, the new model will have a 7- to 8-inch screen, but will not have the high-def screen the recent iPad features, a source said.

Experts expect the smaller iPad to sell for close to the Nexus 7 tablet and Amazon’s Kindle Fire, both of which have 7-inch screens and cost $199.

Rumors of an iPad mini have been circulating for months. However, with Google making its debut in the next couple weeks, Apple hopes to launch theirs by year’s end.

No details have been confirmed by Apple. A spokepersons for the electronics giant declined to comment at press time.

Props to BallerStatus

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