In a well-timed article amidst a string of analyst-based smaller iPad rumors, Bloomberg reports that a smaller iPad is on its way. The report says that this new iPad has a display that comes in between 7 and 8 inches, and it will be announced in October. The report also says that this smaller iPad will feature a 1024 x 768 display, not the Retina-resolution screen found on the third-generation 9.7-inch iPad. The October launch for the smaller iPad was first reported by iMore. iMore also reported that the smaller iPad will be priced between $199 and $249.