The iPad Mini is finally official.

Phil Schiller and Tim Cook were on the stage at a special California media event and unveiled the long awaited mini tablet, a brand new product that is aiming towards the 7 inch tablet market and faces competition from Amazon and Google.

Cook declared: “So this iPad mini is just 7.2 mm thick. That’s about a quarter thinner than the fourth-generation iPad. Thinner than a pencil. You can hold it in one hand… the new mini will run all of the software designed for the full-size siblings.”

That is just how most people envisioned the new iPad Mini, which will feature the exact same 1,024 X 768 display resolution. However, even if the resolution is the same, the image will be sharper because of the smaller screen.

Pricing was also announced. The wi-fi version of the iPad Mini will be  $329, while the 32 GB version will cost $429. There is also a 64 GB version that will cost $529. Pre-ordering starts Friday.

The surprise of the event was not the launch of the new iPad Mini, which many expected. Apple also unveiled a new generation iPad.

This basically sets up the company for a strong holiday season. This new iPad will come with a battery life of 10 hours, a better HD front camera, faster wi-fi, and LTE data speeds. The 16 GB iPad will cost $499. The pricing structure is identical to the previous version.

Will you consider buying a new iPad or the iPad Mini this season? Let us know what you think of the new tablet from Apple in the comments section below.