The release date for the iPad 5 is going to be later than expected, most likely the end of this October. The new iPad 5 is going to be the first in many years with a overall major redesign to it. The fifith generation iPad 5 is oing to be thinner, lighter, and much more similar to the iPad mini. That said, the reports of the second generation of the iPad mini coming out at the same time, is also wrong. The iPad Mini 2, will be released sometime next year, and is rumored to have a retina display using Sharp's IGZO tenchnology. However, some rumors state that the display will be made by Samsung instead. The launch date of the iPad Mini was reportedly set back due to shortage of supply.
Both the Ipad Mini 2 and the iPad 5 are going to contain A7 and M7 chips that contain the iPhone 5S ,and will have significant better retina displays. Rumor has it, Apple has a new color available for the iPad and the iPad mini, an aluminum chrome look. There has also been leaked pictures of what looks likes a possible champagne rose, and gold color look on the iPad as well.
Apple will release these items in their annual Fall roll out conference that is said to be within the next week. The event, which is invite only, holds an iPad media event that allows consumers and buyers to get a first hand look at what Apple has in store for us this year. Invitation have not gone out yet, so it is still unclear when the exact date the iPad 5 will be released.