Report: Apple may unveil iPad mini this month

With the iPhone 5 now available on store shelves, the rumor mill shifts focus to another potential Apple device: the iPad Mini.

Apple will reportedly unveil a smaller version of its popular iPad tablet during an invitation-only event on Oct. 23.

According to the report from All Things D, the event will likely take place at Apple's Cupertino, Calif., headquarters. The announcement is also three days before the launch of Microsoft's Surface tablet.

Although most of Apple's product announcements take place in San Francisco, the company has revealed several notable devices on its campus, including the iPhone 4S.

Rumors of an iPad Mini have picked up momentum as more competitors roll out smaller, more affordable tablets. The iPad Mini has been reported to feature a screen measuring under 8 inches and a price tag between $200-$250, which falls in the range of Amazon's Kindle Fire and Google's Nexus tablet.

Among the other iPad Mini rumors making the rounds: it will only support a Wi-Fi connection, and it will feature a 7.85-inch display with a lower resolution than Apple's latest iPad.