Microsoft Readying Surface Mini With 7-Inch Screen: Report

Microsoft hopes to capitalize on the mini tablet craze amid crashing PC sales and a dim outlook for the company's Windows 8 operating system.

Microsoft is looking to cash in on the booming market for small tablets by revamping its Surface tablet portfolio. Currently, the Surface product family includes just basic two models: the ARM processor-based Surface RT and the Intel i5-powered Surface Pro.

According to The Wall Street Journal, a "mini" version of the Surface is in the works. "The software giant is developing a new lineup of its Surface tablets, including a 7-inch version expected to go into mass production later this year, said people familiar with the company's plans,"reported the news outfit.

For Microsoft, the device can't arrive too soon.

On April 10, market research firm IDC announced that during the first quarter of 2013, the PC market suffered a huge decline in shipments. In total, PC vendors shipped 76.3 million units in 1Q13, a 14 percent drop compared with the same period a year ago.