iLounge’s source reports Apple is currently working on a new iPad with a 7-inch display which may be unveiled later on this year or by early 2011. With the popularity of small screened eBook readers, the iPad Mini may just be the ticket to sway them into joining the Apple bandwagon.

According to other blog sites, iLounge’s source have proven themselves to be quite accurate in their past reports. Therefore, if you’re still in the market for an iPad but are not too keen about its size, you may want to hold off to see what Apple has in store for you.

[iLounge]

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