Update: These look to be fake…
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Although design-wise, the cover appears to be similar to the current 9.7″ iPad Smart Covers, upon closer inspection, the dimensions are smaller than that of the current cover, and fit perfectly onto leaked parts from the iPad 5, which, like the iPad mini, sheds its large bezel in favor of a much thinner edge, to make the device more comfortable to hold. In fact, photos seem to depict the iPad 5 as looking identical to the current generation iPad mini, just larger. Also of note here is that this new cover has only 3 panels, instead of 4, just like the iPad mini’s.
While these Smart Covers appear to be legitimate, we remain skeptical of the design discrepancies between this cover and that of the one that ships on the iPad mini. If you recall, the iPad mini’s Smart Cover reveals no metal hinge, with the magnets instead being embedded in the same material as the case itself is made of, to avoid scratching the iPad. It’s questionable why Apple would continue to ship the larger Smart Cover with a design inconsistent to that of the iPad mini’s.