Following months of speculation, Apple (NASDAQ:AAPL) unveiled the new iPad mini at its special event today. The new device carries a 7.9-inch display and features the same resolution as the iPad 2. The iPad mini will feature Apple's dual-core A5 chip, the same processor used in the iPad 2, along with two cameras.

Apple is including 4G LTE support for the smaller model, similar to the larger 9.7-inch version. The tablet will also boast the same 10-hour battery life, improving its portability. Pricing starts at $329 for a 16-GB model, with additional configurations available that follow Apple's existing pricing strategy. Adding $100 increments will double storage up to 64 GB. Including 4G LTE capabilities adds a $130 premium.

Along with the iPad mini, Apple unveiled a new fourth-generation iPad with upgraded internal specifications and added support for more international 4G LTE frequency bands. Additionally, the company is now bringing on Sprint Nextel (NYSE:S) as an iPad carrier partner.

Pre-orders start on Oct. 26, which also happens to be the day Microsoft (NASDAQ:MSFT) launches Windows 8 and its Surface RT tablet. It will launch Nov. 2 in a wide range of countries.

Apple also unveiled updates to its Mac mini and iMac families, while introducing a 13-inch MacBook Pro with Retina display.

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Evan Niu, CFA owns shares of Apple. The Motley Fool owns shares of Apple and Microsoft. Motley Fool newsletter services recommend Apple and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.