By Claire Reilly

After months of rumour-mill overdrive, Apple finally launched the newest product in its line-up in California overnight – a smaller, thinner and lighter tablet known as the iPad Mini.

With a 7.9-inch screen and a slightly slimmer bezel, the iPad Mini is 7.2 millimetres thick (23 per cent thinner than the new iPad) and 308 grams (making it 53 per cent lighter). At 20centimetres by 13.5 centimetres, it is also small enough to be used in one hand, according to Apple.

The brand was also quick to reiterate that the resolution on the miniaturised device was not diminished – boasting the same 1024×768 display as its larger predecessor, meaning that apps designed for iPad will still work on the new device (rather than requiring upscaled phone apps).

Inside there is a new circuitry configuration that holds a dual-core A5 processor as well as the “largest and thinnest single cell battery” ever designed by Apple, allowing the manufacturer to claim a 10-hour battery life on a single charge (though battery life will vary according to levels of usage).

The iPad Mini retains the Siri user interface and FaceTime camera of the New iPad, and offers 5-megapixel shooting Full HD 1080p video recording with the rear camera. The Mini uses Apple’s new lightning power connection, and the company will also be bringing out new coloured smart covers to fit the device.

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Here’s Philip Schiller, Apple’s senior vice president of Worldwide Marketing talking up the device.

“iPad mini is every inch an iPad,” said Schiller. “With its gorgeous 7.9-inch display, iPad mini features the same number of pixels as the original iPad and iPad 2, so you can run more than 275,000 apps designed specifically for iPad.

“iPad mini is as thin as a pencil and as light as a pad of paper, yet packs a fast A5 chip, FaceTime HD and 5 megapixel iSight cameras and ultrafast wireless―all while delivering up to 10 hours of battery life.”

The iPad Mini with Wi-Fi will be available from Friday 2 November in two colours: black and slate or white and silver. The 16GB model will be available for RRP $369, the 32GB for RRP $479 and the 64GB model for RRP $589.

Wi-Fi + Cellular models of the iPad Mini “will start shipping a couple of weeks after the Wi-Fi models” according to Apple, with the 16GB model selling for RRP $509, the 32GB model selling for RRP $619 and the 64GB model selling for RRP $729.

No, this person doesn't have giant hands – the iPad Mini is now smaller than your average Apple tablet.

A comparison of the New iPad and the newer iPad Mini (both of which feature the same screen resolution).