Tech giant Apple will release another version of iPad Mini later this year, according to the report of an analyst.

KGI Securities analyst Ming-Chi Kuo released a new note containing the shipment timeline of Apple devices. According to the note, iPad 5 will be the highlight of this year's iPad line as no successor of iPad Mini will be released this year.

However, Kuo also said that a cheaper iPad Mini running with the old A5 processor may come later this year, most probably in December before the holidays. The cheaper iPad Mini will probably aim to fill in the void that the absence of iPad Mini 2 will create.

The delay of iPad Mini 2 release date is due to issues in production of the Retina displays as well as on components on how to make the iPad Mini 2 more power efficient. iPad Mini 2 is expected to be released in March or April in 2014.

Kuo has a good reputation when it comes to Apple-related rumours since most of his speculations come true.

The second generation of iPad Mini was rumoured to come with Retina Display with 2048x1536 pixel resolution. Some of the specs and features that this iPad will include are dual core A6 processor; longer battery life; FaceTime HD camera; and an iSight camera with 1080-pixel HD video recording.

The full-fledged iPad 5 will have an A7 processor, support for 4G/LTE connection and internal storage up to 128GB, according to Kuo. Rumour has it that the device will retain its 5MP rear camera although many Apple fans wished that Apple will upgrade it to 8MP.

The note is not from Apple and the company still has the final say when it comes to the release date of its devices.