Reports said that iPad Mini is slowly overtaking the sales of the full-sized iPads.

The iPad Mini made its debut in late October with the iPad with Retina Display, or iPad 4, but it appears the iPad Mini is cannibalising the sales of the 9.7-inch iPads, according to a report by NDP DisplaySearch. The report noted Apple planned to sell 40 million units of the iPad Mini and 60 million units of the iPads.

The iPad Mini features 16GB, 32GB, and 64GB of internal storage with 512MB of RAM, five-megapixel rear-facing camera with 2,592x1,944 pixels, front-facing camera with 1.2-megapixels, iOS 6 operating system, and available in black and white.

Rumours toward the successor of the iPad Mini emerged online. A few weeks ago, Piper Jaffray analyst Gene Munster told clients that the next Apple iPad Mini 2 with Retina display will be launched on mid-2013 after the release of the iPad 5.

Apple's iPad Mini 2 will obviously offer Retina display to differentiate itself from its predecessor. However, Apple is struggling from supply constraints. The good news is that the Cupertino-based company is preparing to launch the next generation iPad Mini with a screen boasting of a higher resolution than the Retina Display-equipped current iPad 4. The Retina Display of the next generation iPad Mini will be 324 ppi which is miles ahead of the iPad 4 screens' 264 ppi display.

According to reports, iPad Mini 2 will 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 in 2012. 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.

However, Apple remained tight-lipped on its plans this year and the details of its upcoming devices.

Below are the top five specs and features that Apple should include in the upcoming iPad Mini 2 that will ensure its success in the tech market.

1. Better Screen Display - iPad Mini 2 is said to feature a screen with a resolution of 2048 x 1536 similar to the screen resolution of the fourth generation of iPad.

2. Faster Processor - The current iPad Mini features a lame A5 processor, which needed an upgrade.

3. Upgraded RAM - The old processor is paired with 512MB of RAM. Other 7-inch tablets already feature 1GB of RAM.

4. Larger Internal Storage - Recently, Apple released an upgraded 4th generation of iPad with 128GB storage. iPad Mini 2 could also use a larger storage option that can be its main selling point.

5. Cheaper Price - Compared to other 7-inch tablets like Google Nexus 7, Amazon Kindle Fire and Samsung Galaxy Tab 2, iPad Mini bears a hefty price tag. This discourage some consumers in buying the tablet.