The iPad mini has been extremely successful for Apple since it launched late last year. How successful? Well according to a new report, it accounted for more than 60% of the 19.5 million tablets the company sold last quarter.

Apple’s iPad sales showed significant growth last quarter–they were nearly double what they were during the same 3-month period last year. And a lot of industry watchers have attributed the jump to the mini’s popularity…

DigiTimes reports:

Apple’s total iPad shipments were 19.5 million units from January to March, of which iPad mini accounted for 12.5 million units, showing that the 7- to 8-inch segment has already become the mainstream of the market, said the sources, adding that the second-generation iPad mini could make an appearance as soon as August.

This is worth looking at for a few reasons. For one, it means that the mini is seriously cannibalizing sales of the larger iPad models. And two, because it costs more to make, and is less expensive, it’s hurting Apple’s profit margins.

And while those margins will improve over time, they’ll likely take another big hit this fall when Apple unveils the next-gen iPad mini with Retina display. By most accounts, it will add at least $50 to the tablet’s BOM (bill of materials).

Speaking of the next mini, DigiTimes notes that Apple could launch the tablet as soon as August. It was initially rumored to make its debut in the spring, but recent chatter has suggested it’s going to land in the fall, alongside the iPad 5.

It’ll be interesting to see what the iPad mini/iPad mix is like around this time next year. Do you think the mini is going to continue to eat away at the iPad’s marketshare, or will the rumored iPad 5 redesign help turn things around?