A cheaper iPad Mini 'expected,' says Citi

A cheaper iPad Mini 'expected,' says Citi
The iPad Mini is already cheap at $329.But Apple is expected to go even lower, according to a report out Tuesday from Citi Research.Ciit's Glen Yeung said in a note to investors that Apple is shifting toward more inexpensive products."Supply chain checks by Citi's Asia-Pac Technology Team suggest a mix shift surprisingly toward Apple's older iPhone4/4S," he wrote.Then added."And with our expectation of a low-end iPhone slated for September launch, followed by a sub-$250 iPad Mini, we expect this trend to persist." While there has been plenty of speculation about a cheaper iPhone, an iPad Mini priced below $250 hasn't been a hot topic.More ink has been devoted to anticipation of a Retina version of the iPad Mini.Related storiesWaiting for the iPad Mini Retina? Think about thisThe Citi note mentions a comment by Apple Chief Operating Officer Peter Oppenheimer to back up the expected shift to cheaper devices, including the Mini."We are managing the business for the long termand are willing to trade off short-term profits where we see long-term potential," Oppenheimer said during the most recent earnings conference call. More details about "mixing to the low-end" were also provided in the note. "September quarter...low-end iPhone (15 million units) & iPhone4/4S (10M) volume, will likely meet or exceed that of iPhone5S (10M) and iPhone5 (5M)." Citi sees this increased emphasis on more inexpensive devices as inevitable. "We detect [a]...pattern to lower-end mix that we view as part of a natural and inevitable trend for Apple and indeed the entire mobile device industry."

Apple App Store reaches 10 billion downloads

Less than three years after its launch, the Apple App Store reached its goal of 10 billion downloads this morning.To promote the milestone, Apple had promised to give away a $10,000 App Store gift card to whomever bought the 10 billionth download. Apple said the winner of the gift card was Gail Davis of Orpington, England. The store launched in July 2008 with just 500 apps and now touts the availability of more than 350,000 free and paid apps for the iPhone, iPad, and iPod Touch. Growth of the store's popularity has been swift; in its first nine months, the store hit 1 billion downloads and followed that up with 5 billion downloads in June 2010.The App Store has been such a resounding success for mobile computing that Apple's competitors have been forced to launch similar ventures. Google, Microsoft, Research In Motion, Nokia, and Samsung all offer apps through their own app storefronts.But the venture has not been without controversy. Early on, Apple's app approval process often frustrated developers, who were sometimes left in the dark about the reason an app was rejected. But Apple recently announced plans to publish its App Store Review Guidelines and to allow developers to create applications with just about any tool they want.Updated at 1:05 p.m. with identity of gift card winner.