A market analyst says Apple could be working on an even cheaper version of the iPad mini. This device could sell for as little as $200.pipo smart s2

Apple iPad miniKGI Securities analyst Ming-Chi Kuo wrote "Apple might roll out a more affordable iPad mini to compete with Android products." Rival tablets that run Google's operating system like the Google Nexus 7 go for $200, while the iPad mini starts at $350.

A recent report from J.D. Power shows that iPad users are satisfied with many aspects of their tablets, but cost is not high on the list of reasons why.(Ampe A10 Allwinner A31) A model that sells for $200 or $250 might change that.

That's the price range Kuo suggests is a possibility. To reach this, the analyst says Apple might reduce the amount of internal storage to 8GB and remove the rear-facing camera. There might also be room to save money in the production process.Nextway F10X

The lower-cost version of the iPad mini might be on the market this fall. It certainly won't be out before then -- Apple CEO Tim Cook made that clear last week.