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Why Apple Really Built the iPad Mini

Initial impressions of the iPad Mini are overwhelmingly positive, despite the significantly higher price point for its smaller tablet, than its competitors. Yet, CEO Tim Cook was quick to say the iPad Mini is not like the other 7-inch tablets on Apple's earnings call.

"Let me be clear. We would not make one of the 7-inch tablets," Cook said. "We don't think they're good products."

The iPad Mini starts at $329. For instance, the Amazon Kindle Fire HD starts at $199.

Rounding out the top five tablet makers are Amazon, ASUS and Lenovo.

Apple shares were higher in premarket trading Monday, up 1.22% to $583.86.

-- Written by Chris Ciaccia in New York.

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