iPad vs iPad Mini: Is The Older, Larger Cousin Losing Ground To More Adorable Mini?

Yesterday was a bad day for Apple, with stock taking about a 10 percent hit.On top of that, it doesn't help that the iPad mini is destroying the iPad, at least that's the word on the street. The possible implications of this kind of "cannibalization" could affect people looking for a more affordable iPhone.

Tim Cook, Apple's CEO, even acknowledged the issue yesterday, saying, "There is some cannibalization there," according to BusinessInsider.

There is a lot going for the iPad 4, of course, with a 9.7-inch LED-backlit screen with Apple's ultra-high definition Retina display technology, a quad-core graphics A6X processor, and up to 64GB of flash storage. Compare that to the iPad mini, with less than an 8-inch screen, a less powerful processor that's a generation behind the iPad's, and a comparatively wimpy screen resolution.

But the iPad mini can also come equipped with that same 64GB flash drive, and has the same camera and video recording capabilities as the iPad, right out of the box. And each comparable iteration of the iPad mini comes at a price that averages $170 less than the iPad. For example, compare the 32GB iPad mini, which runs $429, to the 32GB iPad Retina that breaks into high-end price territory at about $600.

Given that choice, and when considering the added portability of the iPad mini, one might make the decision to sacrifice a little screen resolution and size for the same functionality in an easier-to-tote Apple tablet. And you'd save around 30 percent of the price too.

According to Zach Seward and Quartz, that's exactly what consumers are thinking too, resulting in an eight percent dip in the average iPad sale price recently, and less profit per sale for a company. It might be hard to convince Apple that a low-end iPhone won't eat into normal iPhone sales , especially after it recently lost its reputation as "World's Most Valuable Company" - perhaps to itself.