Numerous reports reveal that Apple is slated to reveal their latest iPhone, iPhone 5 and iPad Mini this coming October in order to directly compete with Google's newest tablet, the Galaxy Nexus 7.

The rumors about the possible release of iPhone 5 and iPad mini intensified because of the reports disclosed by Andy Hargreaves, an analyst with Pacific Crest. In his note, details about the iPad mini were disclosed as well as the potential release date for these rumored Apple devices. Here is a summary of the rumored features for both iPad Mini and iPhone 5:

iPad Mini

The specifications for the iPad Mini includes a 7.85-inch display with 1024 x 768 screen resolution and 8GB flash storage. Other features for the iPad mini would be enhanced such as a new camera location, better battery life and a thinner design. The selling price for the iPad Mini is rumored to be around US$299 and could be released sometime around October, 2012.

iPhone 5

Alongside the rumored release of an iPad Mini is also the release of the newest iPhone from Apple named iPhone 5. Rumored specifications of iPhone 5 includes having a 4.6-inch screen with possible Retina display like the new iPad and MacBook Pro models, thinner design, and lighter weight. The processor for iPhone 5 is also rumored to be a A5x or A6 processor in order to support more features. Additional features of the iPhone 5 includes NFC (Near-Field Communication) and 4G LTE.

The rumored OS for both iPad Mini and iPhone 5 is the newest OS version from Apple called iOS 6. The incorporation of iOS 6 means that these Apple devices would have considerable improvements like Siri, Facebook integration, Apple Maps, Facetime, and many more. According to Apple, iOS 6 will at least introduce 200 new features which would surely be beneficial to iPhone 5 and iPad Mini.