The iPad Mini is the latest device by Apple that is causing all kinds of commotion amongst Apple fans. The new tablet is expected to compete in the 7-inch tablet market shared by the Google Nexus 7, Kindle Fire HD and others. But what do we know about the iPad Mini? Let's take a look at the rumors regarding this highly anticipated mini version of the popular iPad.

The iPad Mini's display will be 7.85 inches. Slightly bigger than the screen size of a Google Nexus 7 or Kindle Fire. The regular iPad screen is 9.7 inches corner-to-corner.

Retina Display? Nope. Apparently the iPad Mini will not have the the highly touted retina display used on such devices as the iPhone 4, 4S, 5 and the new iPad. So that's a bummer. Still, a 1024 X 768 display is pretty good. The screens would be made by Sharp.

The iPad Mini is rumored to have the Lighting port used by the iPhone 5. So if you have the latest iPhone, you'll be able to use that cable for the iPad Mini as well.

The iPad Mini will supposedly come with the A5 processor used in the iPhone 4s. Not the A6 processor that comes with the iPhone 5. And it will come with 512 MB of ram. So you're basically buying a smaller iPad 2.

Prices have apparently been leaked overseas in regards to the iPad Mini. The prices appear to have been confirmed by outlets like the Daily Mail.

An 8GB model? That would put it in line with Google's Nexus 7, which has an 8 GB model for $199. According to this list, there will be 8, 16, 32, and 64 GB models, with wi-fi or with wi-fi and cellular. It's rumored that Apple's 8 GB entry model would go for $249, but they may lower it to $199 just to stay competitive with the other brand's models. Who knows.

We also don't know what it will officially be called. Right now, the iPad Mini is what the public is calling it, not Apple.

An announcement regarding the iPad Mini is expected to be made on October 23rd at the Town Hall Auditorium in Cupertino, California.

So how will this affect games for those who buy the iPad Mini? The tablet's screen would work fine for games, though we're curious if the processor will be able to compete with NVIDIA's blazingly fast quad-core Tegra 3 processor currently housed in the Google Nexus 7. Now that developers are scrambling to make their games iPhone 5 compatible, how long will it take to make them compatible for a 7.85 inch screen? We'll find out more when Apple makes their official announcement.

What are you hoping for in an iPad Mini? Let us know in the comments below.