Really should be compared with an iPad mini2 and in doing recognize there is only a $50. difference.
The Mini2 vs Mini3 is really a joke as the Mini3 is the least upgrade I've ever seen in an Apple product, don't forget the base ram is 32 not 16, so that's worth something..
The N1 has things still not found in the Mini3, USB port, MUCH better cameras, Better WiFi, Compass.
Compared that to the Mini3's "upgrade", this is more of an upgrade. I'd compare it to the Mini4 just for the USB and camera alone.
How many people really consider the Mini3 a worthwhile upgrade? No WiFi upgrade, no base RAM upgrade, no camera upgrade... They didn't mention GPS on either one, so I don't know what to think of that.
Also, the street price might be lower than the MRSP.
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Until Android tablets get a hell of a lot more tablet-optimized apps, I don't see this or anything else being an iPad "killer," mini or otherwise.
Also, if you live in the Android ecosystem and you have a Nexus 6 or similar, why would you even want a tablet that's only slightly bigger and runs (for the most part) the same phone apps?
Android does have issues with device optimized apps, but that can change, it'll probably change faster if Android would have more standardized offerings.
As far as the Nexus 6 phone vs slightly bigger tablet, the upside to the mid-sized tablets is that they aren't a phone, no phone contract, much cheaper price. These target businesses that want a portable tablet that the full sized ones don't address. Also, with personal WiFi, making phone calls can be done.
Most don't even use the smart phones for phone calls. Paying for a contract phone doesn't make sense for them. WiFi is getting more popular.