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Also silver. the cool part is november 1st it will be available at $500. also, the other announcement was the ipad mini is going to be faster. it comes with that retina display everybody's been asking about. also comes in white, gray, and black. starts at $399. shipping later in november. exciting for consumers because they're keeping the older ipad mini on the market for only $300. apple has lots of stats when they hit the stage with these kind of presentations. they've sold 170 million ipads to date. they have 81% of the consumer market share. this is huge news. >> it's huge news, but the co...

Just a few hours from now the lights are off right now at the apple event tim cook will take the stage a few hours from now. this fall it is going to be very busy for apple's slew of new products. what will we see? we saw the iphone now it is the ipad's turn. we will see ipad mini with the receipt new display. a lot of people wondering if they can get the battery life to display an ipad mini. a whole slew of off the wear mavericks is on the desk top computer. the laptops and big i macs whole new software there. new computers as well.

The program expected to launch in 2015. >> smokers beware. chicago mayor rahm emanuel now planning to hike the cigarette tax in the windy city. the proposed $0.75 increase would bring a pack of cigarettes up $0.75. they hope it will offset the $330 million budget deficit. we are just hours away from it apple's big launch event. the tech giant expected to may go make a big announcement about the ipad and the ipad mini. >> self declared tech nerd clayton is here. >> i added the self proclaimed. we are not calling you a nerd. >> i am proud. proud and self proclaimed. will absolutely.

Music videos is youtube and they are handing out their own awards, too. but will you watch? good afternoon. welcome to "the lead." we begin with the national lead. let's talk about the right and wrong ways to roll out a product for a minute. say what you will about tim cook's reign at apple. they still know what they're doing. drum up excitement, stir up positive word of mouth, reveal the thing people clamor for and preferably standing in front of a giant screen never hurts. earlier, cook unveiled a new lightweight ipad, a new ipad mini and the new mavericks mac operating system. apple will ...

Of the year after the new iphones were introduced last month. let's bring in cnn money tech correspondent lori segal who's been watching. >> everybody's waiting to hear about the ipad. we're hearing that they're going to release the new ipad 5, a new ipad mini with the retina display. we haven't heard that yet. but i can tell you what we have heard. they announced the price and release of apple's new operating system. it's called maverick. it was eye opening. they said they were going to release it for free, which is new for apple. they also introduced and updated the macbook pro line. they sa...