Rumor: Apple Orders 10 Million iPad Minis

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By Trey Thoelcke Published
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According to The Wall Street Journal, component makers in Asia say they have received orders for more than 10 million of the rumored but not yet unannounced iPad mini in the fourth quarter. That is roughly twice what Amazon.com (NASDAQ: AMZN) reportedly ordered for the Kindle Fire for the same period.

Previous reports indicated that the smaller tablet is already in production, and it appears that Apple Inc. (NASDAQ: AAPL) believes there will be a strong market demand for a smaller, less expensive tablet during the upcoming holiday shopping season.

Rumors about the iPad mini have swirled for months. It is expected to feature a 7.85-inch display and a price tag far cheaper than the larger tablet. Still, it will face stiff competition from rivals including Amazon’s $199 Kindle Fire and Google Inc.’s (NASDAQ: GOOG) $199 Nexus 7 tablet. According to market research firm iSuppli, Apple’s share of the worldwide tablet market fell to 69.6% in the second quarter, down from almost 84% in 2010.

Media invitations to the launch of Apple’s newest tablet are expected to be sent out later this week, with the new device introduced on October 17, followed by a launch date of November 7.

Apple, following its long-standing practice, has said nothing regarding these rumors.

Apple’s shares are trading down about 1.3% just after the opening bell to $644.13 in a 52-week range of $363.32 to $705.07.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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