By Ian Bush

PHILADELPHIA (CBS) – With the competition circling and rumors swirling, Apple could release a smaller, seven-inch version of the iPad.

Long before he died, Apple founder Steve Jobs said the 10-inch iPad would never take a shave to compete with the likes of the Nook Color and the Kindle Fire with their smaller displays and price tags. He called a reduction in size “meaningless.”

But now, the Wall Street Journal and Bloomberg are reporting that such a device is in the works, and could be announced this fall.

Apple is famously tight-lipped about what’s in the pipeline, but all this talk comes after Microsoft unveiled its Surface line of tablets and as Google ships its Nexus 7.