The rumored iPad mini will be a seven-inch tablet, giving other similarly-sized devices a run for their money.
Date: Expected October
Apple is also rumored to be unveiling a smaller iPad this fall to compete directly with a growing crop of seven-inch tablets on the market, most notably Amazon's Kindle Fire and Google's(GOOG) recently launched Nexus 7 tablet. Though neither has enjoyed the success of Apple's 10-inch iPad, they seem to have sold enough to get Apple's attention.
Though it's possible the smaller tablet will be announced at the same time as the iPhone, many following Apple believe it's more likely that the company would announce an iPad mini during a separate event in October.