It looks like Apple has a lot of work to do to keep up with competition with other tablets when it introduces the iPad Mini.

Google is reportedly making two new versions of their popular Nexus 7, with one being $99.

There is an updated Kindle Fire for $159, and a new line for Kindles, the Kindle Fire HD, starting at $199 (16GB 7-inch), $299 (16 GB) to $499 (32 GB) for the 4G LTE Wireless. It has an 8.9-inch screen, which has 25 percent less glare, two antennas for Wi-Fi, which gives a stronger signal.

The Microsoft Surface Tablet also poses as a threat. Reports say that Microsoft will launch its Windows 8 tablet along with the new software on Oct. 25. The Surface tablet will be priced to compete with Apple's iPad, starting somewhere around $300 for the basic Windows-RT model, and likely around $800 for the Windows 8 version.

Barnes & Noble recently unleashed their new 7-inch Nook HD, starting at $199, and 9-inch Nook HD+, which starts at $269. They also recently announced that the company is launching Nook Video this fall in the U.S. and the U.K.

Content will come from major studios including HBO, Sony, Starz, and Warner Bros, and Disney.

"Like Amazon Instant Video, Barnes & Noble's Nook Video will allow you to stream or download videos you've purchased."

With all this tablet competition, price is crucial for Apple's iPad Mini.

Reports say the 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.

Many reports say that Apple will unveil its smaller iPad at an Oct. 10 event, just a month after they unveiled the new iPhone 5, which was Sept. 12. Then, Apple will release later in October.

One analyst says that Apple might launch the iPad Mini at a $250-$300 price point, cheap enough to convince customers that the iPad Mini is a Nexus 7 or Kindle Fire alternative. Some say it will not have Retina Display.

Many believe that the iPad Mini will be priced similar to the new iPod Touch.

According to Ewan Spence at Forbes.com, he believes also that it will be around the same price as the Touch.

"From the evidence today, I'd expect to see a 16GB iPad Mini with Wi-Fi connectivity to launch at $299, with a 32GB model at $399, and a 64GB model at $499."

According to ZDNet, an iPad Mini "would ideally need to be priced at or below $299 in order to remain competitive in the face of the iPad 2 and 3."

Pricing may be an issue for the little Apple tablet. The Kindle Fire HD with 16GB costs $199 while the 16GB Nexus 7 costs $249 with all the Android content. According to Pop Herald, "If Apple will sell the iPad Mini with a $249.99 price tag, then it will be safe to assume that Apple can sell "millions." But what if the iPad Mini will sit within the $300 to $399 mark? Can it still lure customers?"

According to iPad.Blorge.com, "As mentioned, Apple's new iPod Touch rings in at $299, so unless Apple plans on lowering that price, I wouldn't expect to see an iPad Mini priced any lower than $350. A device with 3G will probably cost closer to $400 or $450."

According to WPTV, the iPad Mini will cost at least $349 because the iPod Touch starts at $299.

However, WPTV reported that analysts said that sales of the iPad Mini could struggle if Google decides to lower the price of its Nexus 7 to $99. The Nexus 7 is currently $199, so dropping the price $100 really would heat up the competition.

Apple will have to add more reading apps to the iPad Mini to make the smaller tablet a good e-reader also. The current iPads have iBooks, which feature "the best of what's new right at the top of the page." There is over 1.5 million books, including new Multi-Touch textbooks. "Since iCloud keeps track of what you've previewed, you can start shopping on your iPad and continue on another device."

What could make the price lower?

Having no Retina Display could lower the price. Retina Display, which makes text crystal clear on the screen, may be a crucial hit or miss for the iPad Mini depending if its there or not. Many analysts think that the iPad Mini will not include Retina Display to keep the price down. However, some do.

"It'd make sense for Apple to launch the iPad Mini with a Retina Display. Going against its usual way of doing things, especially in light of Steve Jobs' comments about that particular size, is a bold move. And bold moves require big USPs," said Rob Bamforth, Quo Circa analyst and regular Know Your Mobile columnist.

Making the iPad Mini WiFi-only could also lower the price.

According to Forbes, citing analyst Allan Yogasingam of the research firm, UBM TechInsights, Light Reading reported today that Apple is likely to make the widely expected 7-inch version of the iPad Wi-Fi only in an effort to keep the price tag of the device below $250.

In comparison to the new Kindle Fire HD, Amazon is only offering a WiFi version of the 7-inch version, which is priced at $199. Amazon is offering an 8.9-inch version for $299; for $499 they double the memory and add 4G LTE capability.

Yogasingam said the device could also be lacking any back-mounted image sensor as a cost-saving move.

Will it matter the price of the tablet if Apple already has a huge fan base? Brand loyalty might be the key for the iPad Mini to excel against all other tablet rivals.

According to TheBorneoPost, CouponCodes4U conducted a survey of 2,103 consumers. When asked whether or not they were happy with the latest Kindle Fire HD, and shown details of specs if not aware of the new device's offerings, 55% of respondents said they liked the look of it, while 45% admitted that they were 'unimpressed' with the latest tablet.

When all respondent were asked whether or not the new Kindle had enough to hold their interest if and when the iPad Mini was released this year, 39% of respondents said it would. However, 54% of respondents said they would be more likely to opt for the iPad Mini when it is released, while 7% of respondents admitted that they would "consider" both tablets.

TabletBlorge reported: "If this were any company other than Apple then entering a market with a device more expensive than the direct competition would spell disaster. But Apple can rely on its millions of loyal customers remaining completely ignorant of the competition and buying an iPad Mini regardless. Steve Jobs will certainly not be spinning in his grave right now, but he probably will be smiling."

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