Tech giant Apple may release three tablets this year in order to beat some of its rivals.

According to rumours, Apple will release the iPad 5, iPad Mini 2 and a cheaper iPad Mini this year, a triple threat to the rivals of the company.

Aside from the widely known iPad 5 and iPad Mini 2, Apple will also release a low cost tablet of the size of iPad Mini. The next generation of iPad Mini is said to have a lower price to beat Android-based tablets, according to a recent investor's note from Citi Research.

According to the note, Apple will slash off around $100 on the current iPad Mini model. While a price drop from $329 to around $250 would certainly better enable Cupertino to compete with more cheaply priced Android tablets.

A report from Jeremy Horwitz of iLounge claimed that the upcoming fifth generation of iPad will come in October with iPad Mini-like design. Jeremy Horwitz has a good reputation of being accurate with details of unreleased Apple products in the past.

The report also said that Apple is now targeting an October release for the iPad 5, "give or take a couple of weeks," after originally planning for a March launch.

It is speculated that Apple will introduce the next generation of iPads in September. This is supported by Apple's CEO Tim Cook statement that no devices will be released until later this year.

"Our teams are hard at work on some amazing new hardware, software, and services that we can't wait to introduce this fall and throughout 2014," Cook said.

According to rumours, iPad Mini 2 is speculated to feature a screen with a resolution of 2048 x 1536. This is almost four times the resolution of the present iPad Mini and is equal to the fourth generation iPad which was released along with the iPad Mini last year. AU Optronics has been rumoured to be making displays for the iPad Mini 2.

Other specs include a more powerful dual core A7 processor and a 7.9 inch screen. It will also feature a 10-hour battery life, a FaceTime HD camera, and an iSight camera with 1080 pixels HD video recording. Apple is also trying to reduce the thickness of the iPad Mini 2 by using the Sharp's IGZO (indium gallium zinc oxide) technology in its screens.

The iPad 5, on the other hand, is rumoured to have no bezels, and the whole form factor has been made sleeker. Horowitz believes this design indicates that Apple will be calling on Sharp's IGZO screen technology. Sharp, however, according to Horowitz, has been struggling, and its ability to deliver components on time will play a key role in the release of the next iPad.