According to a Digitimes Research Analyst, Apple might be working on a smaller version of the iPad with a 5- to 7-inch display and it might come to the market in first quarter of 2011. So if you felt that the iPad is a bit too big to fit in your bag, there might be some good news. The iPad Mini will still not fit in your pant pocket !

And the price of this version is expected to be below $400. The analyst has been in talks with upstream component suppliers and says that this device will mainly target the eReader market. Such a move by Apple would be possible, considering the huge price difference between the iPod touch device and the iPad. There is a gap to fill and the iPad mini might just do that.

Looking at the evolution of the iPhone , it first started with the iPhone in June 2007 and after the 3G and 3GS models in subsequent years, the iPad was announced this January . We might see the iPad mini in Jan 2011.

Anybody excited about the iPad mini ?