Bloomberg is reporting that according to two unnamed sources, Apple plans to launch a 7 to 8 inch version of the iPad this year, possibly by October. One of the sources said that the new iPad wouldn't have a Retina Display. Analyst Shaw Wu of Sterne Agee & Leach Inc. said that such a new iPad, priced around $199, would be "competitors' worst nightmare." The low-cost iPad would be targeted at the Kindle Fire (or whatever 7" model Amazon has at that time) and the Google Nexus 7, and would be intended to help keep those (and similar) tablets from eroding Apple's market from below. It's widely expected that the new iPhone will be released in September, so if the new iPad is real, it's likely to be announced at the same time.