Apple’s new 7.9-inch iPad mini may be its worst-kept secret, but Apple CEO Phil Schiller still surprised us today. At a launch event in San Jose, the company also unveiled its 4th gen iPad– a full five months before the usual March iPad launch date and just seven months after the third-gen iPad launch. That third-gen “new” iPad, by the way? It’s now discontinued.

Both the iPad mini and fourth generation iPad come with iOS 6, FaceTime HD and iSight cameras, Apple’s new Lightning connector port, and optional LTE/HSDPA-ready cellular data. Both new tablets also pack dual-band 802.11 a/b/g/n WiFi, which Apple claims offer twice the Wi-Fi performance as previous models.

iPad mini 300Measuring a skinny 7.2 mm thin and two-thirds (0.68) of a pound, the new iPad mini is made with the same anodized edges found in the new iPhone 5. Apple claims the mini provides 10 hours of battery life, but this is due to the fact that it runs on last year’s A5X chip, and the mini has the same 1,024 x 768 display as the iPad 2, so there is no Retina Display. If you already own a Retina Display third-gen iPad or iPhone 5, the mini might feel like a step backward.

iPad mini features a front-facing FaceTime HD camera and a 5 megapixel iSight camera on the back for recording full 1080p HD video. The iSight camera includes video image stabilization, and both cameras feature backside illumination to let users capture great pictures in low light. iPad mini also allows sharing of photos with friends and family using iCloud’s Shared Photo Streams.

iPad mini data plans will be available with no contract, so you can sign up and activate service directly from your iPad. The Personal Hotspot feature lets you share a cellular data connection via Wi-Fi, Bluetooth or USB with up to five other devices such as MacBook Pro, iPod touch, or another iPad.

Apple’s new fourth generation iPad is mostly similar to the third-gen model: it still features a 9.7-inch Retina display, 5-megapixel rear iSight camera, and 10 hours of battery life. The main upgrades here are a front FaceTime HD camera, dual-band Wi-Fi, and Apple’s A6X chip, which Apple claims delivers up to twice the CPU performance and up to twice the graphics performance of its previous A5X chip.

iPad mini and fourth generation iPad both feature support for Apple’s new two-way Lightning connector that it introduced last month with the iPhone 5. Lightning connector accessories are available to support cameras, SD cards and VGA or HDMI digital video. Existing iPad Smart Covers and the iPad Smart Case are compatible with fourth generation iPad, and new polyurethane Smart Covers for iPad mini are available in pink, green, blue, light gray, dark gray and (PRODUCT) RED for $39.

iPad mini with Wi-Fi models will be available in black and slate or white and silver on Friday, November 2, for a retail price of US $329 for the 16GB model, $429 for the 32GB model and $529 for the 64GB model. The fourth generation iPad with Wi-Fi models will also be available on Friday, November 2, in black or white for a suggested retail price of $499 for the 16GB model, $599 for the 32GB model and $699 for the 64GB model.

The tablets will be available at select Apple resellers in the US, Australia, Austria, Belgium, Bulgaria, Canada, Czech Republic, Denmark, Finland, France, Germany, Hong Kong, Hungary, Iceland, Ireland, Italy, Japan, Korea, Liechtenstein, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, Puerto Rico, Romania, Slovakia, Slovenia, Singapore, Spain, Sweden, Switzerland and the UK.

iPad mini with Wi-Fi + Cellular and fourth generation iPad with Wi-Fi + Cellular will start shipping a couple of weeks after the Wi-Fi models, beginning in the US on AT&T, Sprint and Verizon. iPad mini with Wi-Fi + Cellular will sell for US $459 for the 16GB model, $559 for the 32GB model and $659 for the 64GB model.

Fourth generation iPad with Wi-Fi + Cellular for AT&T, Sprint and Verizon will retail for $629 for the 16GB model, $729 for the 32GB model and $829 for the 64GB model. While Apple is already discontinuing sales of the third-gen iPad it introduced in March, you can still buy an iPad 2 for $399 for the 16GB Wi-Fi model and $529 for the 16GB Wi-Fi + 3G model where they are sold now.

You can pre-order any model of iPad mini or the fourth generation iPad this Friday, October 26 through Apple’s online store in the US, Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Korea, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, Singapore, Spain, Sweden, Switzerland and the UK.