Now that the new iPad Mini with Retina Display has made its debut, its predecessor is receiving a price drop.

It is customary for Apple to give a device's latest model the same pricing as its previous generation. However, since the Cupertino based company will not be eliminating the current iPad Mini model, the Retina Display version is starting at $399 while the older edition has dropped its starting price from $329 to $299.

This price drop applies to the 16GB model, which is the only one available, according to Engadget.

Buyers that may have recently purchased iPad Mini could be elegeble for a $30 refund, according to Gotta Be Mobile.

The new Retina Display version comes with more than just the one enhancement. Packaged with the top-notch A7 processor, Apple promises that the new chip will give four time faster CPU and eight times faster graphics performance. Along with this extra speed, the Wi-Fi performance is marketed as being twice as powerful thanks to two antennas.

Backed by the power of the A7 processor, the device will feature Apple's latest mobile operating system. The iOS7 was recently rolled out with the companies latest iPhone update and is now coming standard with mobile products.

The iPad Mini with Retina Display will be released in November.

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