Apple Planning To Launch 5 to 7-Inch iPad In Q1 2011?

Digitimes has just reported that Apple is prepping to launch a smaller iPad in Q1 2011. This iPad will reportedly feature a 5 to 7-inch touchscreen display (which I prefer) and it'll retail for $400 USD. What will this one be called, the iPad Nano? Let's see if it comes to life. It'll sport iPhone OS 4.0 so that's already great news - if it's true that is.

[Boy Genius]