7-Inch iPad with Retina Display Coming in October Priced at $200-$250

iMore reports that Apple indeed plans to launch its 7-inch iPad in October. The device will be priced in the $200-$250 range

According to our source, which has proven reliable in the past, the reason for such aggressive pricing is to do to the tablet market what Apple did to the MP3 market in 2004 with the expansion of the iPod product line -- leave absolutely no space for competitors.

The 7-inch iPad will be "identical in every way" to the current iPad with the exception of the display size and will include a Retina display with a pixel density roughly identical to that of the iPhone 4S. Most observers have, however, believed that the device would carry a non-Retina display in order to allow Apple to meet lower pricing targets.

It remains unclear how Apple would be able to meet a $200-$250 price point for the smaller iPad given the apparent specs, although the device will reportedly come with only 8 GB of storage. Still Apple's current iPod touch starts at $199 and this smaller iPad will undoubtedly carry significantly higher component costs.