The completely new tablet design is also 23 per cent thinner than the previous Apple tablet offering and boasts a 7.9-inch Multi-Touch display.
Other features of the product include ultrafast wireless performance, FaceTime, ten hours of battery life and HD and iSight cameras.
Philip Schiller, senior vice-president of worldwide marketing at Apple, explained the iPad mini offers the same performance as the larger iPad designs.
Mr Schiller noted: “[The] 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.”
He added the width of the new release is comparable to a pencil, while the device is as light as a pad of paper.
When browsing the internet, users will benefit from 67 per cent more usable viewing area compared to seven-inch tablets, while also enjoying 35 per cent more screen real estate.
In addition to the iPad mini, Apple has also introduced the fourth generation iPad, which has a 9.7-inch Retina display and A6X chip.