Apple may also have a lower cost option in its iPad lineup planned. Apple is holding an event on March 7 that is all but official to be focused on the iPad 3.
According DigiTimes, in addition to a new iPad, Apple will reportedly launch an 8GB version of the iPad 2. If DigiTimes is right, the move would help position Apple to compete with lower priced tablets from competitors.
Can Apple get the cost of an iPad low enough to compete directly with Amazon's Kindle Fire and the Nook Tablet from Barnes & Noble?
What to expect:
When: Apple has officially sent invites for an event at the Yerba Buena Center for the Arts in San Francisco at 1 p.m. EST on Wednesday March 7. The device could go on sale in the same month.
Specs: Obviously, faster processing, but how is the question. Apple is rumored to be testing an overhauled version of the current dual-core A5 chip and a new quad-core chip. Geeks may fawn over quad-core badging, but hot some dual-core processors are performing better than current quad-core.
The most anticipated change for the iPad would be a move to a higher resolution display. The tech world seems certain the iPad will get a retina display that debuted on the iPhone 4 -or at least something near it. Evidence from MacRumors makes a compelling case. It acquired what is allegedly the new screen which has been confirmed to have a 2048x1536 resolution.
Reports also point to 4G LTE connectivity with both AT&T and Verizon Wireless.
How Apple balanced performance upgrades with battery life will be a big question until the announcement? Battery life has been an iPad ace.
Design: Don't expect anything radical. Rumors have bounced from a thinner to a thicker casing, but the most recent word is a tapered design. So maybe it is both thinner and thicker than the current iPad. The changes would be made to accommodate beefed up internals.
The current device measures nearly 10 inches, but rumors suggest a smaller 8 inch version could be in the pipeline. A smaller device could better position Apple against the likes of the Kindle Fire and Nook Tablet.
Matthew Fortner has been at The News & Observer since 2002. He has a passion for gadgets, cutting-edge technology and all things geek.