The crazy rumor train continues running on schedule as we get closer and closer to WWDC, which is under two weeks away. This latest Apple rumor comes from Citi Research and just as you’d expect with most Apple-related rumors around this time of year, it’s a little hard to believe.

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What it says is that the new iPad Mini could cost as low as $249. The current Mini costs $329 so an $80 price drop would be quite significant. It was Citi’s Glen Yeung who had the following to say.

“Supply chain checks by Citi’s Asia-Pac Technology Team suggest a mix shift surprisingly toward Apple’s older iPhone4/4S,”

“And with our expectation of a low-end iPhone slated for September launch, followed by a sub-$250 iPad Mini, we expect this trend to persist.”

There are two reasons why this is so difficult to believe. As Cult Of Mac notes, the $329 iPad Mini is already Apple’s best selling tablet so there really isn’t a need for a price drop of any kind, especially considering the company has always been about higher profit margins.  Combine that with the possibility of a retina display in the new Mini and there is even less reason why the price would go lower.

Hopefully we won’t have to wait too long to know for sure, but let’s chalk this one up to unlikely status.

Source: CNET Via: Cult Of Mac