Some time back there were reports that Apple Inc. may kill the iPad Mini product line, but a latest report from the KGI Security senior and reliable analyst Ming-Chi Kau claimed that the Cupertino-based tech titan is planning to launch a new iPad Mini version this fall. It further said that the device will essentially be a smaller version of the iPad Air 2.

IB Times reports that Apple Insider obtained a note wherein Kuo stated that the new iPad mini will come with an upgraded processor, and will have a thinner and lighter chassis. Kuo also said that while he expects a gradual increase in iPad shipments to 11 million units next quarter, there will be a year-over-year drop of 28.3 percent in Q4.

The analyst approximates that Apple has shipped 5.4 million Macs, 8.8 million iPads, and 54.2 million iPhones in Q3 2015. While this certainly sounds impressive, it denoted that iPad sales will have declined again by 33.5 percent, while the sales of Mac and iPhone increased by 54 percent and 21.6 percent respectively. However, an upgrade to the iPad mini may help to renew interest in the product line, which is yet to receive a significant cosmetic change since it was introduced in November 2012.

The report prepared by Kuo further states that even the Apple Watch will receive an update and come with new yellow gold and rose gold color options for the Apple Watch Sport. The analyst, whose earlier predictions have proved to be correct, foresees Apple shipping 3.9 million watches in Q3. Kuo describes this consumer response as "tepid."

The iPad Mini received a modest upgrade when Apple renewed the device last year. The Home button was replaced with a Touch ID, and the company introduced a new gold color option. However, such minor updated failed to impress tech reporters, who noted that by comparison the iPad Air received large amount of changes. However, the reporters were impressed with the iPad Air 2 as it came with a lighter casing and lightning-fast processor.