If the grapevine is to be believed, Apple may just pull out the mother-of-all-marketing coups with its double whammy launches! Rumors are rife that the gadget world will see the onslaught of not one but two heavyweights from the Apple stable - come fall, the tech giant will be launching both iPhone 5 and the iPad Mini.

According to Bloomberg, "two people with the knowledge of the plans" said that Apple may announce a smaller, cheaper iPad by year end. Reportedly, the rumored smaller version, called the iPad Mini, will have a screen size of 7 to 8 inches and no Retina display. According to a report by TabTimes, Pacific Crest analyst Andy Hargreaves issued a note to investors stating that Apple will likely launch the iPad Mini this fall, cutting into sales of the larger iPad.

The iPad Mini is expected to live up to its name - it is said to be half the size of the current iPad, has 8GB storage, and can support HD resolutions of 1024x768 pixels. The integration of the sensors into the LCD, rather than layering in previous models, adds to the iPad Mini's novelty factor.

Since the 2010 iPad launch, Apple has ruled the tablet market. According to Gartner Inc., Apple has 61 percent of the market share. The Mini is Apple's attempt at retaining its paramount status in the tablet market, fending off competition from players like Google, Amazon, and Microsoft. The iPad Mini is expected to be priced between $249 to $299, nearer to Google's Nexus 7 tablet and Amazon's Kindle Fire's $199 mark.

Shaw Wu, an analyst at Sterne Agee & Leach In, avers "It would be the competitors' worst nightmare. The ball is in Apple's court." Apple spokesperson declined to comment.

With two bumper launches on the cards, Apple can look forward to generating more revenue and upping the stakes in the tech world. The iPhone 5 and iPad Mini are surely tipped to be the cherries on Apple's enviable roster of successful products.

Come fall, the Apple success story will have yet another chapter added to its illustrious saga. If one Apple product was not enough to give rivals sleepless nights, the unleashing of two will surely inflict insomnia! Apple will have immediate competition alright, but this time from its own progeny.