Updated from July 16 to provide information on rumored launch date in the second paragraph.NEW YORK ( TheStreet) - Rumors that Apple ( AAPL) is moving ahead with development of an iPad Mini continue to abound the Internet, and that's got folks speculating about what the device will look like and what features it's likely to include. As a service to TheStreet's readers, we've decided to round up some of the more intriguing Apple iPad Mini chatter that's making the rounds in the blogosphere. Citing an unnamed investor source, CNNMoney reports that Apple will send out invitations Oct. 10 for the event, with the actual announcement coming Oct. 17. Eric Jackson, co-founder at Ironfire Capital is positive on the prospects of an iPad Mini. "I think this is a slice of the tablet market that appeals to some users who want a smaller form factor to take with them on the go. I'm expecting the same functionality in a smaller form factor. I'm expecting it comes in at $299 making it pricier than Kindle and Google but with better functionality," Jackson said in an email with TheStreet. This is what consumers could expect from the device, rumored to make its debut later this year: What It Will Look Like Several images of the device's potential appearance have already shown up on the Web. Most expect the iPad Mini will have a screen size around 7-inches, as competitors such as Google ( AAPL), Barnes & Noble ( BKS), Samsung, and Amazon ( AMZN) try to attack the iPad's dominance. The iPad has 68% of the tablet market per IDC. The smaller tablet may also be slightly thinner than the iPad 2, and have a similar thickness to the iPod Touch. The iPod Touch has a thickness of just 7.2 millimeters It's also possible that Apple may include its A5X chip in the new device that is currently exclusive to the new iPad, as well as front and rear cameras. It's not yet known whether the smaller device would have Long Term Evolution (LTE) capabilities, Retina Display, or if it would come in multiple models, ala the iPad 2 and the new iPad.