Apple announces fourth generation iPad, iPad Mini Apple announced the iPad Mini Tuesday at the California Theater in San Jose, Calif. The highly-anticipated tablet computer is a smaller, cheaper version of the tech giant's popular iPad, and a fourth generation iPad. Apple chief executive officer Tim Cook started off the event saying, ""We have some very fond memories here, and we're going to create a few more today." But first, Apple senior vice president Phil Shiller took the stage to introduce a fourth generation iPad. "It is a power house," Shiller said. 37 Photos Apple launches iPad Mini, new MacBook Pro The fourth generation iPad features an A6X processor, 5 megapixel iSight camera, expanded LTE chipset, front-facing camera with FaceTime and 720p video capture, faster Wi-Fi, and Lightening connector. The new iPad is priced at $499 for a 16 GB model, $629 for a 16 GB model with 4G LTE. Shiller also introduced an iPad mini. The smaller iPad is 7.2 millimeters thick, 0.63 pounds, comes in white and slate black. The iPad mini's screen is 7.9-inches at 1,024 x 768 display resolution. Apple launched the original iPad in April 2010. The iPad has since dominated the 9-inch tablet market, with a reported 70 percent market share. Cook reported tat there over 100 million iPads have been sold. The iPad mini starts at $329 for a 16GB Wi-Fi only model, $429 for a 32 GB model and $529 for a 64 GB model. Updating...