Apple will introduce its latest line-up of iPads on October 22.
AllThingsD deep throats have claimed that Apple would be updating its tablets in time for holiday shopping.
The new iPads will go up against Amazon.com's Kindle Fire tablets, which will be lighter, thinner designs and have more powerful processors.
But all things are not well in Apple land. Supply chain sources have warned that Apple may run into a shortage of so-called "retina" displays for the iPad mini which could in turn limit supply of the gadget during the crucial season.
The iPhone-maker has come under pressure over the past year to preserve market share and bolster sales against rivals that are rapidly raising specifications and lowering prices.
Amazon's new 7-inch Kindle Fire is priced from $229 for 16GB wifi-only models, while Google Inc's second-generation Nexus 7 offers a similar screen size and storage capacity at the same price.
In comparison, the cheapest model in Apple's current 7.9-inch iPad Mini lineup with 16GB of storage starts at $329.
What is curious is that it looks like Apple's iWatch is still vapourware. While rivals like Samsung have already issued a designs for wearable computer watches which are expected to do everything an iWatch might do, Apple has yet to announce that it will come up with anything similar.