UNDATED (CNN) -- Apple might be ready to unveil its new iPad mini as early as next week.

The company just announced today that it would hold an event next Tuesday.

And it's widely expected to be about the smaller iPad, that's believed to have a seven-inch screen and a price tag under 300 bucks.

The current iPad is $500 and has a ten-inch screen.

Amazon and Google are already in the smaller tablet market, with the Kindle Fire and Nexus 7.