Apple announced the iPad Mini Tuesday at the California Theater in San Jose, Calif. The highly-anticipated tablet computer is a smaller, cheaper version of the tech giant's popular iPad, and a fourth generation iPad. Apple chief executive officer Tim Cook started off the event saying, ""We have some very fond memories here, and we're going to create a few more today." But first, Apple senior vice president Phil Shiller took the stage to introduce a fourth generation iPad. "It is a power house," Shiller said. The fourth generation iPad features an A6X processor, 5 megapixel iSight camera, expanded LTE chipset, front-facing camera with FaceTime and 720p video capture, faster Wi-Fi, and Lightening connector. The new iPad is priced at $499 for a 16 GB model, $629 for a 16 GB model with 4G LTE. Shiller also introduced an iPad mini. The smaller iPad is 7.2 millimeters thick, 0.63 pounds, comes in white and slate black. The iPad mini's screen