Smaller iPad in the Works?

Apple’s iPad may be getting a little more compact in the near future, because Bloomberg and The Wall Street Journal report that a smaller version of the insanely-popular tablet is in the works.
According to reports, it’ll be 7″ across diagonally, compared to the regular iPad, which is 9.7″. The sites add that they expect Apple to release the smaller iPad sometime this fall. The usually-secretive Apple hasn’t made any official announcements, and keep in mind that late co-founder Steve Jobs had voiced his scepticism about smaller tablets before passing away last year.
The iPad is getting plenty of new competition. Microsoft recently announced its Surface tablet, due out before the end of the year, and Goggle Google will release the Nexus 7 tablet later this summer.
Source: The Wall Street Journal and Bloomberg