Apple is offering 15 to 17 percent discounts on the fourth-gen iPad and iPad Mini signalling the imminent release of iPad 5 and iPad Mini 2.

However, the discounts are only offered on the refurbished iPad 4 and iPad Mini and have been done in an attempt to push sales of the refurbished Apple products.

With the new price reduction in place, consumers can now pick up the 16GB and 32GB variants of the Wi-Fi iPad mini for $249 and $359, respectively, which is a discount of 15 and 16 percent. If the 64GB version of the Wi-Fi iPad mini has taken your fancy, then be prepared to shell out $346, which is a 17 percent discount.

On the other hand, if you prefer the 9.7-inch iPad 4 to its 7.9-inch sibling, then fret not, as Apple has discounted the former as well. You can avail a discount of 16 percent on the 16GB and 32GB variants of the iPad 4, which now cost $419 and $499, respectively. If you're looking for more storage, then the 64GB version would be more up your alley and will cost $579 (17 percent discount).

Apple also offers a year-long warranty and a new battery on the refurbished iPads to attract consumers in buying the refurbished units.

Another evidence of the upcoming release of the new iPads is the sudden disappearance of the iPad 2. The device has been conspicuously out of stock at numerous retailers over the past week.

Consumers are already waiting for the rumoured iPad 5 and iPad Mini despite its unconfirmed release date in September.

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.