It looks like Apple will unveil the iPad Mini very soon.

According to many reports, Apple is likely to unveil the iPad Mini at an Oct. 23 event.

Reuters reported that a source familiar with the plan said that Apple will unveil the smaller tablet right before Microsoft unveils its new Windows 8 software and new Surface tablet on Oct. 26. AllThingsD had a similar report, saying that people familiar with Apple's plans said the company will unveil the iPad Mini on Oct. 23 at an invitation-only event.

One Wall Street analyst said he saw the smaller tablet -- dubbed iPad mini by the media -- while visiting component suppliers in Asia, according to Reuters.

"We actually had the opportunity to play with a pilot iPad Mini used by one of the vendors," Topeka Capital analyst Brian White said. "This 7.85-inch iPad Mini fit our hands like a glove and we were easily able to tuck the device in our sport coat, offering consumers a more mobile iPad experience for certain use cases."

The Wall Street Journal reported that makers of protective cases have already started selling cases for the iPad Mini.

Alibaba.com, China's biggest business-to-business e-commerce site, had iPad Mini cases in various colors and materials, according to the report. Some of the postings even say the cases are for "iPad Mini 7.85-inch tablet."

Reports say the 7.85-inch iPad Mini will be more affordable and come with a powerful processor. It is also assumed that the new tablet will feature Apple's upcoming operating system, iO6, which includes a new, Google-free Maps app, and Passbook, and promises better Facebook integration, better maps, and better video conferences that use cellular data and Siri. It is also said to have the new Lightening dock connector, two speakers, and thinner bezel. It may also feature a music service similar to Pandora radio, Retina Display, and FaceTime.

A new report by Nasdaq suggests that the iPad Mini might feature a USB port.

A survey conducted by TechBargains.com shows that 78 percent of consumers surveyed are expecting and desiring a USB port, while 77 percent want Retina Display. Sixty-five percent want a memory card slot, and 74 percent want better speakers than the third generation model.

With Apple taking a lot of heat for their newly released iPhone 5 and new iOS 6 software, many might not want to buy another Apple product (which is highly unlikely though).

According to the Nasdaq report, surprisingly many didn't want to buy the iPad Mini.

The TechBargains survey claimed that only 18 percent of consumers are interested in buying the new tablet when it is released. Thirty-two percent said that they are undecided, indicating that Apple has the chance to win over some consumers. The remaining 50 percent are not interested in buying an iPad Mini.

"This does not compare favorably to the third-generation iPad," Nasdaq reported. "When TechBargains conducted a similar survey in February, 48 percent of respondents said that they were interested in buying the third-generation iPad, which was known as the iPad 3 at the time."

"Given Apple's recent success it would be easy to assume that all new Apple products will be wildly popular," Yung Trang, president and editor-in-chief of TechBargains, said in a company release. "Our survey results indicate that theory is no longer the case. According to our survey respondents, the so-called iPad Mini will not be highly coveted because consumers are questioning the necessity of a smaller iPad, especially if they own an iPad or an iPhone."

This might not stop Apple from dominating the tablet market though. Brand loyalty and strong demand for smaller tablets will help the tech giant stay on top.