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Apple IPad Mini Leaves Rivals Room to Undercut Price

Apple Inc. Chief Executive Officer Tim Cook unveiled a smaller, thinner iPad that carries a price high enough to shore up profit while leaving room for competitors to sell their tablets more cheaply.

Apple said yesterday that the 7.9-inch iPad mini will cost $329 to $659, depending on memory and wireless features. With that starting price, the company is sticking to its strategy of charging a premium to preserve industry-leading margins in a market that NPD DisplaySearch predicts will more than double to $162 billion in five years.