It is to be noted that Apple started offering Refurbished iPad Mini two weeks ago and it seems that Apple is preparing for the next generation iPad Mini. We have been hearing many rumors about the next iPad Mini with Retina Diplay and the data from the supply chain is indicating that too. However Apple CEO has cautioned against reading much about the supply chain as the Cupertino Company gets components for its products from multiple sources.
Some other sources indicate that the cut in shipments is due to heavy competition from the 7-inch Android tablets which are much cheaper than the iPad Mini and offer handy features.
According to the rumors, the Next generation iPad Mini will be released in the third or fourth quarter of 2013 and will most likely to have a Retina Display with a resolution of 2048 x 1536.