Tech fans are speculating that Apple will launch a new smaller iPad model as early as next week.
Apple today issued a media invite to a special launch event to be held on October 23, at the California Theatre in San Jose.
The invite revealed little about the launch, merely stating that "We've got a little more to show you."
Although Apple is yet to confirm whether the iPad mini even exists, ever since the release of the iPhone 5 tech-geeks have been buzzing about the possible new device.
Observers have even taken to dubbing the unconfirmed new device the "iPad Mini", "iPad Nano" or even the "iPad Air".
The rumour mill is buzzing that the new model will be a 17-18cm sibling of the iPad, and will be designed to compete with tablet rivals like the Google Nexus 7, and the Amazon Kindle Fire.
Similarly, the consensus throughout the 'Twitter-verse' is that the new iPad will have the same Lightning dock connector as the iPhone 5, will have a fast processor, EarPod headphones and long-lasting battery.
A mini version of the iPad would mark a significant departure for Apple, which only has one 24cm x 18 cm model available at this stage - although it does come with various storage options and starts at $729.00.
PC Magazine says that the rumoured pricing and configuration details for the much-hyped tablet have already been leaked online.
According to the magazine, the "iPad Mini" will be available in black and white with storage options of 8GB, 16GB, 32GB, and 64GB, as apparent in supposedly leaked images . The magazine says that the base Wi-Fi-only 8GB model will start at $399 while the high-end 64GB cellular version is thought to cost around $1,040.
If launched, the new iPad will be revealed just days before Microsoft is to unveil Windows 8 and its new surface tablet on October 26.
Apple is also due to announce its quarterly earnings on October 25.
Despite the buzz, the smaller tablet size has not had great success in the market to date.
Hewlett Packard's TouchPad Go , failed to reach production stages after the larger HP 25cm TouchPad was withdrawn from the market after seven weeks due to poor sales in 2011.
And while one Forbes Tech News contributor thinks the" iPad mini is a good idea... its yet another Apple snooze fest".
"I'm predicting a snooze fest not because of lack of interest in the product or lack of theatrics during the announcement but because I'd be very surprised if we see anything incredibly revolutionary relative to what we've seen in other tablet announcements," wrote Larry Magid.
Even late Apple founder Steve Jobs famously ranted that smaller tablets are unwieldy for applications.
The reason we [won't] make a 7-inch tablet isn't because we don't want to hit [a lower] price point," Jobs said. "It's because we think the screen is too small to express the software. As a software driven company, we think about the software strategies first."
But as Sammual James McLoughlin tweeted, there will be plenty of interest come the new iPad's launch.
"I've been thinking about whether to get iPad Mini. No, I'm happy with my iPad 2. Although that could change after iPad Mini is announced," he wrote.