Next week, Apple is holding a media event to release their newest device, the iPad Mini. While the name is not set in stone, pretty much everything else about the device is. So what kind of impact will an iPad Mini have on the tablet market?

While the standard iPad has had a ton of success in recent years, companies like Amazon have found their own niche by providing much more inexpensive options for those like to read and watch videos on the go. No one has really come out and said it, but many expect this new device to compete directly with the likes of the Amazon Kindle Fire.

The iPad mini will have a 7.85″ diagonal screen, which is almost two inches smaller than the 9.7″ iPad screen, yet significantly bigger than the 4″ iPod touch and iPhone screen. Those people who have resisted the iPad versions in the past either believed the devices to be too expensive, or too big. With the rumored starting price at $329, Apple seems to have addressed both of those issues.

Perhaps the biggest question will be exactly how it compares to the iPad, and if any special features will be introduced to separate it even more from the other devices. Apple is focusing on iBooks quite a bit this week at the media event as well, which makes it pretty safe to assume that the iPad mini will cater to that crowd.

With more information being leaked right before the media event, the specifications are still not confirmed. Many trusted sources believe that the iPad Mini will have specfications much like the iPad 2, which also means no retina display. Wifi and 3G models are also expected, meaning people will be able to access the internet at any time if they wish to.

Any Apple media event is exciting around the internet, because that means there is one more device for people to use on a daily basis. Once the new iPad mini is officially released, a number of invisible screen shields and guards will be released. Check back with Shield Skins, as we will be stocking covers for the new device shortly.