By Keerthi Chandrashekar (staff@latinospost.com) | First Posted: Sep 21, 2012 07:44 AM EDT

Even though the iPhone 5 is out, consumers still have another Apple device to look forward to - the iPad Mini. Despite there being no details about the smaller tablet, there is still enough to being detailing its specs and pricing. Expected sometime in October, the iPad Mini, contrary to most early reports, might sport a higher price tag than previously thought.

And this is all because of Apple's pricing structure. The smaller 4-inch iPod Touch, which is essentially the iPhone without the phone, runs $299. There is very little chance that a full-fledged tablet will be cheaper than that.

The iPad Mini is meant to compete with 7-inch tablets such as Amazon's Kindle Fire series and Google's Nexus 7, both of which offer models at $199. At that price range, far below the $499 tag of the new iPad, consumers get a lighter, albeit less-powerful tablet. The iPad Mini was meant to rectify that and offer a cheap, smaller alternative, but after seeing the iPod Touch pricing, Apple may have "priced itself into a corner," as CNET's Rick Broida put it. 

Initial reports had the iPad Mini price at $249, slightly higher than its competitors, but justifiably so. Not anymore,
"In what universe could Apple charge $249 or even $299 for an iPad when a virtually identical device with a much smaller screen already sells for $299?" wrote Broida. 

Instead, Broida predicts that the iPad Mini will start at either $349 or $399. At that price range, it would fall neatly between the $299 iPod Touch and the $499 new iPad. Still, that is about $100 more than consumers expected to pay for a small Apple tablet.

Keep in mind that Apple hasn't even acknowledged the existence of the tablet, and could announce it starting at $249 or $199. But a look at their mobile device pricing structure gives us the dreary outlook mentioned above. 

The iPad Mini is expected to come with a 7.85-inch screen and be made from iPad 2 parts. While it won't have a Retina display, expect Apple to make the device easy on the eyes. 
Would a higher-than-expected price tag turn you away from the iPad Mini towards a Google Nexus 7 or Amazon Kindle Fire?