Phil Schiller discusses the iPad mini’s price with Reuters:

 “‘The iPad is far and away the most successful product in its category. The most affordable product we’ve made so far was $399 and people were choosing that over those devices,’ Schiller said.”

Exactly. Consumers have chosen the $499 iPad over the $199 Kindle Fire in droves. What do you think is going to happen now that the iPad is $329? Apple will sell tons of them.

The iPad mini isn’t an overpriced tablet, it’s the most inexpensive iPad you can buy.