NEW YORK ( TheStreet) - Apple ( AAPL) has sent out invitations to a major press event on Oct. 23 which is widely expected to mark the launch of the company's new iPad Mini. "We've got a little more to show you," declares the invitation, which landed in TheStreet's inbox moments ago, hinting that the tech giant is planning to launch a smaller version of its popular tablet. The invitation features a portion of the Apple logo set against a technicolor background. The eagerly-anticipated event, which TheStreet will be live-blogging, is scheduled to kick off at 1 p.m. ET at the 1122-seat California Theater in San Jose, Calif. The iPad Mini is rumored to have a 7.85-inch screen, compared to the 9.7-inch screen on the company's current iPads. There has also been speculation that the iPad Mini could be priced as low as $299 in the United States to make it competitive with other, smaller tablets. Almost a third of respondents to TheStreet's recent iPad Mini poll, however, predicted that the device will be priced at $349, between the cost of an iPod Touch and an iPad 2. Apple shares were up more than 2% at $648.20 in recent trades. -- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.