iPad mini mockup.

(Credit: 9to5Mac)

By now, it's almost a certainty that Apple will launch a smaller tablet, dubbed the "iPad mini". While rumors of this device have been around for years,recent reports indicate that we could possibly see this 7.85-inch tablet as soon as next week.

The smaller tablet will allow Apple to compete with the budget Android-powered models from Amazon and Google. Here's a list of features that we expect to find on the device.

However, like the iPhone 5--which presently has a shipping delay of between three to four weeks--Apple may not be able to supply enough units. Digitimes reported that one of the two panel suppliers for the iPad mini, AU Optronics, has shipped fewer screens than expected due to low yield rates.

While production is expected to pick up in Q4, there are concerns that other component suppliers may not meet Apple's target of 9 to 10 million units. This situation is likely to be exacerbated by the affordability of the device--compared with the US$499 iPad, the smaller version is rumored to cost between US$249 and US$299.