If you despaired because the iPad Mini wasn't unveiled last week, I wouldn't give up hope just yet. New are reporting that the iPad Mini, the mythological smaller cousin to the only tablet worthy of the name, is currently in production in secret factories in China.
According to the new rumors the Chinese OEM Pegatron has bid on and won the contract to manufacture around half of all iPad Minis. Their production is expected to be around 500 thousand units a month, and assuming this source is to be believed this will be the 7.849999" screen device that so many have been talking about.
So I guess this means the iPad Mini is still on the schedule for October. Retail is expected to be somewhere between $1 and $500 dollars, with the price probably likely resembling a skewed bell curve centered at $350.