Apple has announced a refreshed iPad Mini on Tuesday, marking the first update to its smallest tablet since 2021. Following the announcement, shares of Apple Inc. (AAPL) rose by 2% in midday trading.
The new iPad Mini is powered by the advanced A17 Pro processor, the same chip featured in last year’s iPhone 15 Pro. This upgrade enables the device to support Apple Intelligence, the company’s upcoming suite of artificial intelligence features, which will begin rolling out to users this month.
During Apple’s fiscal third quarter, the iPad segment demonstrated impressive growth, increasing by about 24% year-over-year. This surge follows the introduction of several new iPad models for the first time since 2022.
The compact 8.3-inch screen of the iPad Mini has garnered a loyal following among users who appreciate its portability, making it ideal for reading and note-taking. Additionally, the new model supports the latest Apple Pencil Pro, enhancing its functionality for creative tasks.
Priced starting at $499, the new iPad Mini is available for preorder now and is set to launch in stores on October 23. With these updates, Apple aims to strengthen its position in the competitive tablet market while appealing to its dedicated user base.