Following yesterday’s report from DigiTimes claiming Apple had a new 7-inch iPad in the works for August, iMore’s Rene Ritchie today claimed Apple is actually targeting an October release, alongside the next iPhone. He also claimed his unnamed source said the device will launch for $200 to $300 and pack-in a Retina display and specs almost identical to the current iPads:

Apple will be going forward with the 7-inch iPad, currently targeting an October 2012 release alongside the new iPhone, and — here’s the killer — at a $200 to $250 price point… Our source has indicated, however, that the 7-inch iPad will be identical to the current 9.7-inch iPad, just scaled down. That seems to include a 2048×1536 resolution display, just like the new iPad. If accurate, that would put the pixel density at around 326 ppi, the same as the iPhone 4S (and higher than the 264 ppi new iPad) retina display.

Ritchie noted his source is not sure of the exact dimensions, but past rumors indicated a 7.85-inch size could work. According to the report, one way Apple will meet the low price point is to offer the new 7-inch iPad with just 8GB of storage. We are taking this report for what it is until we have some solid proof, but we know iMore’s Ritchie has been accurate with several Apple product launches in the past, including the third-gen iPad and iPhone 4S.

Despite a ton of 7-inch iPad rumors, there is no solid evidence that Apple plans to release the device. In April, a report from a Chinese publication claimed Apple’s 7-inch iPad would début for $250 to $300 in the third quarter of 2012. The Wall Street Journal reported in February that Apple was at least testing displays approximately 8-inches in size.

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