Apple rolled out its iPad mini on Nov.2 in 34 countries in one of the biggest product launches of the year. The iPad mini is the company's foray into the smaller tablet market, and per reports, an analyst predicts that Apple will ship 850,000 units of the device within the first week itself.

"As the first iPad mini preorders are being delivered and the tablet hits shelves at brick-and-mortar retailers, shipment forecasts are already being released, with one analyst estimating a total of 850,000 units will go out to consumers over the device's first week of sales," noted the AppleInsider report.

KGI analyst Ming-Chi Kuo made the shipment forecast for the first week of sales and based his analysis on supply chain data and logistical considerations.

"Well-informed KGI analyst Ming-Chi Kuo said Apple will likely ship around 850,000 iPad minis in its first week on the market, based on supply chain checks and logistical considerations such as transportation," reported AppleInsider.

Kuo also noted that had Apple begun the mass production of the 7.9-inch iPad mini earlier than mid-October, the tablet would have seen higher shipment figures for the first week. Currently, reports indicate that Apple is in short supply of the iPad mini as only 950,000 units were manufactured prior to the launch.

According to AppleInsider, Kuos estimations "would put Apple at the top of the mid-size tablet market, with shipments outperforming Amazon's Kindle Fire HD and Google Nexus 7," which are the iPad mini's biggest rivals

Kuo also estimates that post the first two days of release, iPad mini's shipments are anticipated to equal Kindle Fire HD's half month shipment figures and surpass the Nexus 7's average monthly shipments for Q4 2012.

Additionally, Amazon expects that its 7-inch Kindle Fire HD will touch the 6 million mark in Q4 2012; however, Kuo is of the opinion that this mark will not be met. Kuo averred that suppliers were beginning to notice a slowdown in shipment for both the 7-inch Kindle Fire HD and Nexus 7. Moreover, the 8.7-inch Kindle Fire HD was also facing production issues, per Kuo.

The analyst predicts 8.2 million holiday quarter shipment for the iPad mini, followed by the Kindle Fire HD and the Nexus 7 with 4.5 million and 1.9 million, respectively.

AppleInsider also noted that Kuo estimates that "the Fire and Nexus will both see respective month-to-month declines of 47 percent and 52 percent, while iPad mini shipments will grow 11 percent over the same period due to increases in supply."

Apple sold out its pre-orders of the iPad mini within a few hours. Judging by the trend, it seems that the iPad mini will meet, possibly even surpass Kuo's estimations.