iPad 5 release date may take place quite soon as more iPad 4 and iPad Mini deals become available to exhaust all of the remaining inventory of previous models.

Consumers who wished to buy the iPad 4 or iPad Min, more deals appear that signals the imminent iPad 5 release date.

Retail giant Wal-Mart slashed $50 off the price of its 10-inch iPads. The latest iPad with Retina Display now costs $449 and iPad 2 is now offered for $349. However, the iPad Mini retained its friendly price tag of $330.

Last week, IBTimes AU reported that US electronics retailer Best Buy is offering open box iPad 4 and iPad Mini deals where consumers can get as much as $50 off the original price of the device. The company assured that open box devices has no damage and all accessories come with the device.

Consumers can also buy from the Apple Store itself. Consumers can avail greater discounts when they buy refurbished iPads. Buyers can save as much as $80.

It was reported that the iPad 5 release date may happen sometime in October. In a statement, Apple CEO Tim Cook said in his interviews that, "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."

However, other reports claimed that the iPad 5 will be released alongside the next iPhone on September 10.

Based on the written report of analyst Ming Chi Kuo, iPad 5 release date will include an A7 processor, support for 4G/LTE connection and internal storage up to 128GB. Rumour has it that the device will retain its 5MP rear camera although many Apple fans wished that Apple will upgrade it to 8MP.

However, Apple has not confirmed the rumours surrounding the iPad 5 release date.