The day has come; after a few months of rumors, speculation, and part leaks, Apple has finally affirmed the existence of an iPad Mini.

This long-anticipated addition to Apple’s product line comes in a pretty and sleek package, yet the specifications and price of the device seem to fall short of the competition. For example, prices for the iPad mini start at $330 for 16GB of storage. This means a large price hike from the comparable and considerably cheaper Nexus 7 and Kindle Fire HD (both start at only $200). Check out the iPad Mini specs after the jump!

Specifications:

• Display: 7.9″, with 1024 x 768 (162ppi) resolution
• Storage capacity: 16/32/64 GB options
• 2 Cameras: 5MP rear-facing and 720p front-facing
• Connectivity: WiFi and Bluetooth; additional LTE optional
• 7 hours of battery life
• Weight: 0.68 lbs (lightest 7 in. tablet)
• Thickness: 0.28 in. (thinnest 7 in. tablet)

When comparing the specifications between competitors, you find some significant disappointments for an Apple product. We do get a bigger 7.9″ than the competitors’ 7″ displays, but this is only achieved through a sacrifice in pixel density. The result is that the iPad Mini does not have a Retina Display like it’s successful iPad father. In fact, this pixel density (at 162 ppi) doesn’t come anywhere close to the competition, which both sit cozily at 216ppi! This is not only a big let down, but also somewhat embarrassing for Apple to have the lowest pixel density out of all 7″ tablets, especially when the Retina-bearing iPad has the highest pixel density of any tablet!

Is the iPad Mini worth spending an extra $130?

Yes and no. People buy Apple products not only for the stylish design, but also for the experience they provide. This experience can be influenced by the specifications and performance, but Apple’s strongest case lies in the software.

With the iPad Mini, you’ll have access to literally 100s of thousands of apps that aren’t available on an Android device. Developers still prefer making apps for the Apple market simply because there’s more demand in it! I can’t tell you how many times I’ve tried to find an Android equivalent to a great iOS app and have failed miserably! If you want to do more with your tablet or cell phone, an iOS device is usually your best bet.

The price tag for the underwhelming iPad Mini is unfortunate, yet it’s not exactly a deal-breaker. We do still find some significant spec advantages. The Mini has two cameras, whereas most of the competition only has one or none at all. It also has the claim to fame for being the thinest and lightest tablet on the market, being “lighter than a pad of paper.” As well, there’s the fact that the fiercest competitor (the Nexus 7) only has two storage options and no 3G or LTE connectivity.

The extra cost isn’t entirely justified, however most people will still find it reasonable. Pre-sale of the iPad Mini goes on sale this Friday! For quick cash, be sure to sell your old iPods, iPhones, iPads and MORE at MaxBack.com!