The second biggest event from Apple this Fall is planned for Thursday, Oct. 16 at the company's own Town Hall theater in Cupertino. On this occasion, Apple is likely to make a number of new products announcements, including the iPad Mini 3.

There is speculation that the iPad Mini 3 will be named iPad Air instead. This stems from the fact that the iPad Mini 2 was renamed the iPad Mini with Retina display. However, this has not yet been confirmed by Apple.

Nevertheless, fans suspect that Apple will be unveiling the new device during the upcoming press conference.

Beyond that, other say Apple will be unveiling the iPhone Air at the upcoming press conference, but again, that has also not been confirmed.

Stepping back to the iPad Mini 3, based off the leaked information, the design of the device will be roughly 30 percent thinner than the iPad mini with Retina display.

Although the specs of the iPad Mini 3 are not expected to be anything too exceptional, it is likely that the device will sport the new 64-bit chips and the TouchID sensor, which is already present in the iPhone 6.

The 7.9-inch display size of iPad Mini 3 will possibly remain much like the iPad Mini 2. Even the display resolution is expected to stay the same. It is also expected that similar to the iPad Mini 2, the iPad Mini 3 will also come with four storage options - 16GB through 128GB.

In addition, there are rumors that the iPad Mini 3 come with an 8-megapixel iSight camera.