According to industry analyst estimates, the upcoming iPad Mini is expected to cannibalize sales of the full-size iPad by 20 percent, assuming the projected November 2 release date is true.
Analyst Gene Munster with Piper Jaffray believes Apple will sell 25 million iPads during the 4th quarter, and 5 million of those units will be iPad Minis. He had previously forecast sales of 21 million units total before the iPad Mini announcement, so his new estimate lowers the full-size iPad sales number by 1 million units.
He predicts that the iPad Mini will have a base price between $249 and $299 for an 8 GB model with non-Retina display, but believes that due to the lower price point many customers will opt for a larger capacity and estimates the average selling price of the iPad Mini will be between $350 and $360.
Munster also raised his estimate for 2013 sales from 86.5 million to 95 million, with the iPad Mini accounting for 25 percent of those sales. However, despite the increased unit sales, he predicts that the projected lower price of the iPad Mini will cause the average iPad selling price to drop from $527 to $495.