7.85-inch iPad Coming This Fall, “Significantly Less than $499″ According to NYT

The New York Times is today claiming that their inside knowledge of the iPad Mini is certain and that a 7.85-inch iPad will be released this Fall at a price that is “significantly less than $499.”

Here’s an excerpt from the NYT article:

The company is developing a new tablet with a 7.85-inch screen that is likely to sell for significantly less than the latest $499 iPad, with its 9.7-inch display, according to several people with knowledge of the project who declined to be named discussing confidential plans. The product is expected to be announced this year.

The in-depth specifics of the device will likely come about sometime around the iPhone 5 unveiling in August.

Would anyone on KeyNoodle pick one of these up? Do you think that with its lower price point the iPad Mini will help boost Apple’s sales figures or just cannibalize existing iPad sales?

HT:MacRumors