Apple’s share price rises ahead of iPad mini launch

Shares in the $584.3bn (£364.9bn) company climbed more than 2pc as markets opened in New York on Monday, reports The Telegraph, as investors gambled on Apple creating another hit with the new product. It has had a string of successes over the last few years, first with its iPod music player, then the iPhone mobile and its iPad tablet device.

However, the company has come under increasing pressure from rivals such as Samsung which have been launching their own tablets and hit upon demand for devices that are bigger than a smartphone but smaller that Apple’s existing iPad.

Microsoft is also due to join the fray later this week when it unveils its “Surface” device, tipped as a hybrid between a touch-screen tablet and a traditional personal computer.

The iPad mini, which is expected to feature a screen two inches smaller than the current iPad’s 9.7-inch size, could cost as little as $249 (£155), according to some analysts, putting it within reach of many more people and boosting its appeal as a teaching aid in classrooms.