Apple has introduced the iPad Mini at today’s media event. The iPad Mini Packs a 7.9-inch display with a resolution of 1024×768 pixels, measures just 7.2 millimeters thin and weighs only 0.68 pounds, making it 23 percent thinner and 53 percent lighter than the third generation iPad. It comes with FaceTime HD and iSight cameras, ultrafast wireless performance and an incredible 10 hours of battery life.

“iPad mini is every inch an iPad. With its gorgeous 7.9-inch display, iPad mini features the same number of pixels as the original iPad and iPad 2, so you can run more than 275,000 apps designed specifically for iPad,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “iPad mini is as thin as a pencil and as light as a pad of paper, yet packs a fast A5 chip, FaceTime HD and 5 megapixel iSight cameras and ultrafast wireless―all while delivering up to 10 hours of battery life.”

iPad mini with Wi-Fi models will be available in black & slate or white & silver on Friday, November 2, for a suggested retail price of $329 (US) for the 16GB model, $429 (US) for the 32GB model and $529 (US) for the 64GB model. The iPad mini with Wi-Fi + Cellular will start shipping a couple of weeks after the Wi-Fi models and will be offered for a suggested retail price of $459 (US) for the 16GB model, $559 (US) for the 32GB model and $659 (US) for the 64GB model.

Check out some first impressions and a hands-on video here.