SAN JOSE, Calif.—Apple Inc. unveiled a smaller iPad and yet another version of its larger tablet, seeking to blunt an advance by rivals while preserving its premium pricing strategy.

The iPad Mini tablet, which starts at $329, is a cousin to the original iPad, whose screen is about a third larger. But Apple's smaller tablet is priced well above Amazon.com Inc.'s Kindle Fire HD and Google Inc.'s Nexus 7—two tablets which are similar in size and some specs. Those devices cost $199 or $249 depending on the amount of memory.

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