Emerging markets look like the next focus for technology giants and this time, Microsoft is eyeing to cash on the growth potentials in such markets with a smaller-sized Surface tablet.

Microsoft CFO Peter Klein's words at the Goldman Sachs Technology & Internet Conference reflected the company's burgeoning tablet aspirations when he discussed the possibilities of a smaller, more-affordable Surface tablet.

Announcing that Microsoft is all set to attack the tablet market on all fronts, be it with a larger device or a smaller one - or both, Klein said, "We can have the same core code base driving form factors from four inches all the way up to 27-inch ones and everything in between." "So I think we are well set up to respond to demand as we see it. We can deliver a versatile set of experiences across form factors, whether they're four-inch, five-inch, seven-inch, 10-inch or 13-inch,"Geek reports.

It should be noted that the company did not have a smooth run with its 10-inch Surface and at many times, Surface sales have been behind Android devices, mainly due to higher price range and smaller app library.

While it's not very clear at this point what form factor the company would choose for its new Surface tablet, it's speculated that Microsoft may ditch its Windows RT operating system in favor of Windows Phone 8 for the rumored smaller Surface tablet.

It's a high possibility that Microsoft would be looking to take a good bite of the seven-inch sweet spot which Apple now controls with a dominant authority with its iPad mini. The company is not going leave any market segment free for Apple and as Microsoft CEO Steve Ballmer recently told CRN, it will pose a tough competition to the Cupertino tech giant in the tablet market. "We are not going to let any piece of this [go to Apple]," Ballmer said. "Not the consumer cloud. Not hardware/software innovation. We are not leaving any of that to Apple by itself. Not going to happen! Not on our watch!," AllThingsD notes.