The upcoming iPad 5 may costs $399 which is $100 less than the debut price of iPad 4 of $499.

It is speculated that Apple will stop the production and sale of iPad 2. The stocks of iPad 2 has started to dwindle down with Amazon has seven units left and Best Buy has none, pointing to the imminent retirement of the iPad 2 when the new iPad 5 is introduced.

However, it is still speculated whether Apple will release the iPad 5 under a lower price range. The end of the iPad 2 is a long time in coming. It's the only Apple tablet to still use the old thirty pin dock connector port, and for that matter the only one to have a number in its name. Moreover, the iPad 2 lacks a retina display screen. And it sticks out like a sore thumb within Apple's iPad lineup. But Apple wanted something in the $399 spot, and wasn't prepared to go there with the iPad 4 even as it positioned the iPad mini beneath it.

Consumers waiting for iPad 5 and iPad Mini 2 may have to wait longer for the release dates of the devices as retailers restocked current models of Apple's tablet. It was reported earlier that retailers have dwindling stocks of previous iPads that led to the speculations that the next generation of tablets are on its way.

Third party resellers Best Buy and MacMall announced that they have the first generation iPad mini and fourth generation full size iPad back in full stock, with the original price points restored.

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.