The long rumored iPad mini was unveiled today at the Apple event today at the California Theater in San Jose, CA. The device is a much smaller version of the iPad, but smaller does not mean less power. The device is boasted to be more powerful than Google’s Nexus 7 tablet except Gizmodo reports that it uses the same dual A-5 chip as the iPad 2, no word as to how much RAM the mini will have as of yet. As usual, the tablet comes in two colors, white and black, and also comes with the now standard 16 GB, 32 GB, and 64 GB versions. Only some versions will have LTE ability.

With the iPad mini apple is also claiming a battery life of 10 hours while on wifi, watching movies, or listening to music. The screen is 7.9 inches and the battery is a 16.3 watt rechargeable lithium-polymer battery. As for the cameras, the front is similar to the 1.2 megapixel camera on the Nexus 7, as reported by Gizmodo. It also has a backside illuminated sensor and supports face detection. The back camera is 5 megapixels.

As for pricing the 16 GB version will be $329 ($80 less than the 16 GB version of the Nexus 7 tablet), the 32 GB version will be $429 and the 64 GB tablet will be $529. For those who want LTE you will have to pay an extra $130.