Reports claimed that Apple's tablet will not hit the shelves this month as production will only begin this July and the company is eyeing a release date later this year.

According to sources, the iPad 5 will enter production sometime during July or August, presumably setting up a launch during late September or early October.

The sources were also the latest to claim that Apple's next 9.7 inch tablet will ditch its old bezel design in favor of the slim bezel introduced with the iPad mini last year, and the iPad 5 will apparently be noticeably thinner and lighter than its predecessor. There seems to be quite a bit of consensus about this fact across the vast majority of the iPad related leaks to emerge since the iPad 4 was released last year. It's certainly not a guarantee, but likely the best we'll ever get when it comes to Apple rumors.

It is speculated that iPad 5 will be released in late April along with the successor of iPad Mini. Reports stated that this is part of Apple's new product cycle.

Last week, Retailers such as WalMart, BestBuy and MacMall offered discounts on the aforementioned devices. Almost 30 percent being slashed off the price of iPad's and iPad mini's, the clearance sale by the retail giants on tablet's third anniversary is a clear cut indication that Apple is all set to hit the market with a new and updated iPad for the customers.

According to reports, iPad Mini 2 will 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.