Apple Inc is likely to launch its much-talked about mini-iPad on Tuesday, but keeps everyone guessing on its price. 

The device is in direct competition with Amazon's Kindle and Google's Nexus 7 which have made inroads into the lower end of the tablet market.

Despite the secret about its price that Apple has maintained so far, experts and analyst have kept the price between $249 to $299. According to the blog 9to5Mac the price would be $329.

According to Wall Street analysts, Apple was planning a less expensive version of the iPad to take on cheaper competing devices, a move they say might hurt its margins, but prevent its rivals from dominating an increasingly important segment.

Reuters has quoted William Power, Baird Equity Research analyst as saying, "When asked what the most they would pay for a smaller iPad was, our respondents on average said that they would pay $242 for a 7-inch iPad and $268 for an 8-inch iPad".

The smaller iPad is expected to have a 7.85-inch display, be less expensive than the current iPad, and have a smaller charging port. Although Steve Jobs had expressed that the smaller tablet category was “dead on arrival,” an internal Apple email revealed in the Apple v. Samsung trial revealed the Jobs had warmed up to the idea before his passing.