Apple first-generation iPad Mini price cut to $299

The company's elder Mini tablet will be cheaper for those who don't want to invest in its new iPads.

James Martin/CNET

Apple's iPad Mini might have been trumped by the company's new Retina Display model, but the elder option just got a price cut.

The old iPad Mini now goes for $299, Apple announced at its special press event Tuesday. That makes the iPad Mini $100 cheaper than the new Retina Display-equipped model Apple announced today.

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Apple's decision to cut the price on its older iPad Mini is perhaps no surprise. Across the company's mobile line, Apple keeps older versions on store shelves for a discounted price. The move not only increases the company's total unit sales but also helps those on a budget get their hands on Apple's devices.

This is a developing story. Follow our CNET live blog and see all of today's Apple news.

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