Palo-Alto based IT giant Hewlett-Packard (HP) is rumored to launch a smaller 7-inch version of its TouchPad tablet which will compete with iPad 2’s market.

The tablet, reportedly, will be produced by original design manufacturer (ODM) Inventec.Along with the original 9.7-inch device, the amount of the HP tablets produced might also increase more than 400,000 tablets per month.

The 7-inch TouchPad might have the same specs as the original HP device and is rumored to launch in the UK in the next few days, ITProPortal reported.