That is a surprisingly cheap price, and when translated to US prices it indicates the the iPad Mini could cost $249. I'm also a little surprised at the limited amounts of storage. Amazon set a new standard when they shipped the Kindle Fire HD with 16GB, one which everyone else seems to be planning to match. Just not Apple.
It's not clear what the US price will be, but based on Apple's other pricing decision we can simply swap out the euro symbol for a dollar sign. The iPod Touch is priced at $299 and 299 euros, and the latest iPad starts at $499 and 479 euros. This would suggest that the iPad Mini will cost $249, and that means Apple is indeed undercutting the price of the iPod Touch (though not by much, given that the base iPod Touch ships with 32GB of Flash storage).
Assuming this image is real, I think we can make a couple guesses about the specs.
Apple is going to have make the iPad Mini less impressive than the iPod Touch, and that means it likely won't have as good of a camera (it might have only one camera). I'd also bet the iPad Mini won't have have a Retina screen (possibly not even as good as the one on the Nook HD). This cuts the cost as well as removes the need for the pricy A5 CPU found in the latest iPad. With a price of 349 euros, the iPad Mini probably won't have the 4G connection found in the latest model iPad. That would have cost too much.
Assuming my deductions are correct, the iPad Min will be comparable to the specs of the existing Android tablets on the market. It might be better in a few ways, but it won't be like the iPad, which is better in a bunch of ways.
In any case, we're going to have to wait until at least the 23rd to find out for sure.
via Flo's Weblog