Latest reports claimed that the iPad 5 will be announced next month featuring new and amazing design.

Apple-centric website iMore reported that the next generation of the iPads could make their debut in April. Although nothing has been written in stone in terms of specs, a "big redesign" is likely for the iPad 5 while the iPad Mini 2 will feature Retina Display.

"Apple is not going to release iPads that costs more or don't get as good battery life as the current models. So, if the next iPad mini does end up getting slated for April, it could be a spec bump, or have something other than Retina as a differentiator. Hopefully we'll know more soon," said the report.

Initial reports claimed that the fifth generation of Apple's iPad is speculated to be released this month as new rumours claimed that the company is following its original schedule.

Rumours claimed that the new iPad could arrive as early as March 2013 in the hope that it could salvaged Apple's plummeting earnings.

Other reports claimed that the fifth generation of the Apple's tablet will be release in June.

The iPad 5 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.

However, the Cupertino-based company remained tight-lipped on the rumours and on its plans for this year.