iPad 5 release date may take place in the fourth quarter of this year, according to KGI Securities analyst Ming-Chi Kuo.

Ming-Chi Kuo has a solid track in Apple-related rumours. In his latest note, Kuo said that Apple will enter the initial production of the iPad models and will enter full-scale mass production on Q4 of this year. This goes in line with the report of IBTimes AU that consumers may not see any iPad on the September 10 launch event announced by Apple after they sent out invitations.

iPad 5 and iPad Mini 2 will be released later this year to counter the release of other low cost Android-based tablets.

In the note, Kuo detailed that Apple will also offer a non-Retina version of iPad Mini as a cheaper alternative for iPad Mini just in time for the holidays. Moreover, the analyst said that Apple will continue the production of iPad 2 even after introducing the new iPad models as a lower option of full-fledged iPad.

However, other reports claimed that Apple will discontinue the production of devices using the 30-pin lighting connector to have a uniformed connector to all new devices.

It was reported that 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."

According to Ming Chi Kuo, iPad 5 release date will include an A7 processor, support for 4G/LTE connection and internal storage up to 128GB. Moreover, the iPad 5 will still feature a 5MP rear camera but many are hoping that it will increase to 8 megapixels.

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