iPad Mini revealed

It was first, and still says it's the best. This afternoon, Apple revealed a new, smaller iPad. The iPad Mini.

The tablet has a seven-point-nine inch screen and weighs less than a is one-third smaller and 23 percent thinner than its ten-inch cousin. The mini also boasts a 10 hour battery life and Apple's lightning connector.

The price tag was really the only real question mark since details about the device itself leaked over the last few weeks on various tech sites. The Wi-Fi only model it will cost $329.{} Apple starts taking orders on Friday and will ship on November 2.

The Wi-Fi and cellular model is expected in stores in mid November.

Apple is seen as taking on the Kindle, Nook and other e-readers. Apple plans everything, including the timing of today's announcement with the Christmas shopping season.

A research group forecasts that sales of smaller tablets will double this year, because of the mini iPad.