newjerseynewsroom.com

BY BOB HOLT

NEWJERSEYNEWSROOM.COM

Two weeks ago Apple sold its 100 millionth iPad, but will the unveiling of the higher-priced iPad mini mean the company has hit its peak?

Prices for the new iPad mini begin at $329. It becomes available November 2. Apple

Apple chief executive Tim Cook called the 100 million iPad sales "unprecedented for a new product in this category," according to the Guardian. The cheapest Amazon Kindle Fire sells for $159, while the Google Nexus 7 can be purchased for $249.

CNN reports that the iPad mini has a 7.9-inch non-Retina 1024×768 resolution display. It is just 7.2mm thin, 23 percent thinner than the regular iPad.

Morningstar analyst Brian Colello said his company was expecting a price between $249 and $299 for the tablet. “At $250 or $300 they could have built in a premium,” he said, according to a Reuters report in the Chicago Tribune. “We're not quite sure how well it will compete with low-priced tablets from Amazon and Google."

Michael Yoshikami, CEO of Destination Wealth Management, offered a different opinion, saying, “People are happy to pay a premium because it's quality hardware and the ecosystem cannot be underestimated.”

Stuart Jeffrey of Nomura Holdings said Apple defended the higher price of the iPad mini well, but believes the $129 price hike is significant. “It allows for Amazon and Google to continue to build out their positions,” he said, according to Fortune Tech.

Apple also caught people by surprise when the company introduced the iPad 4 for $499 in the 16 GB version, with an upgraded processor and the new Lightning port.

The iPad 3, or nameless iPad, was just released in March. According to Trusted Reviews, Apple has upped the standard 14-day return policy to 30 days, allowing users to trade in the discontinued iPad 3 for the new version.