Been hoping that Apple will finally launch its oft-rumored smaller iPad now that Google has gone ahead and introduced the Nexus 7? According to a new Bloomberg report, your wish may come true. The publication claims that Apple is planning to introduce "a smaller, cheaper iPad" before the end of 2012. This is according to two sources who also say that this smaller iPad will have a screen size measuring between 7 and 8 inches. One of the tipsters added that the device won't feature a Retina display like the one found on the new iPad. Bloomberg also claims that Apple may be planning to announce the smaller iPad in October.

As I mentioned before, a smaller iPad has been the subject of many rumors in the past, with one of the most recent coming back in May. That report claimed that the shrunken iPad could come with a price tag of $200-$250 and, like today's rumor, also said that an October debut may be in the cards. It'd be pretty interesting to see Apple release a smaller iPad considering how well the larger model has been selling, but with the popularity of the Kindle Fire and now the impending launch of the Nexus 7, perhaps the Cupertino firm has finally decided to give the iPad a little sibling. Stay tuned for more.

Via 9to5 Mac, Bloomberg