Software giant, Microsoft might be planning to launch its new surface tablet computer at an event in NYC including a version to compete with the smaller Google's Nexus 7 and Apple's iPad Mini.

The company has said that it will host an event in New York on Monday. The event comes as the company prepares to releases an update to its Windows 8 operating system in October. Windows 8.1 will be compatible on smaller touch screens and will support a new version of the tablet with a smaller screen, offering a cheaper and easier to carry alternative to larger tablets.

The company had taken a write-down of $900 million on the tablet when it discounted its remaining Surface RT inventory by $150 per box. Microsoft has cut the price of its Surface RT tablets by $150 following a major restructuring at the company. Microsoft recently reported the revenues for its Surface tablet computer for the first time and shows that the company is not being able to attract significant number of customers in the market. The Surface RT is a light version of the company’s tablet and runs on a limited version of Windows 8 operating system.