Apple Unveils iPad Mini, New Macs

Apple CEO Tim Cook and vice president of marketing Phil Schiller took to the stage in California at a media event to finally unveil the company's long-awaited iPad mini -- something Jobs once declared the company would never do. According to Fox News, the new $329 product is meant to compete with smaller, 7-inch tablets from companies like Google and Amazon that are nipping at the tech giant's heals.

"You knew there'd be something called Mini in this presentation," Schiller joked with the crowd before revealing the hotly anticipated gadget. Apple has sold 84 million iPads since their debut in April 2010, he said.

"So this iPad mini is just 7.2 mm thick. That's about a quarter thinner than the fourth-generation iPad. Thinner than a pencil," Cook told the crowd. The new product has the same resolution as the larger display 1,024 × 768, but it should look sharper thanks to the smaller screen.

"You can hold it in one hand," he said. It's not just a shrunken down iPad. It's an entirely new design." Yet the new mini will run all of the software designed for the full-size siblings, he said. The mini will start with 16GB of storage at $329; a 4G model will cost an additional $129.

Cook announced an update to the iPad prior to that that he labeled a "fourth-generation" model with updated specifications.

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