The rumor mill is abuzz with the possible release of a new iPad “mini”. This new iPad would compete with the same price point as the new Kindle Fire.

The new device, according to analyst Brian White with Ticonderoga Securities, is expected to arrive sometime in the first few months of 2012, AppleInsider reports.

He wrote to investors, “We believe this lower priced IPad could be priced in the mid-to-high-$200 dollar range. We expect this will be followed by a much more powerful, feature rich standard-priced iPad 3 in (the second quarter of 2012).”

Mr. White received his information by meeting with component suppliers from China and Taiwan.

Techspot notes that the “mini” in the name refers to the price, and not the size of the tablet device. The rumors show that the device would be full-sized like the iPad 2, but with stripped down features, possibly removing a camera or decreasing memory options to remove expense.

Apple may be rushing to quench the demand for the new Kindle Fire which already has pre-orders of over 250,000 units.

Source: Redorbit