The iPad 2 is coming soon, according to a report in the Wall Street Journal that said the next-generation device is currently in production.
Citing "people familiar with the matter" the new slimmer, lighter iPad will include a faster processor, a camera, and more memory. The resolution of the display, however, won't get much of an upgrade from the existing model, the report said.
The fact that the iPad 2 is coming isn't groundbreaking news, however. Apple has a pretty consistent history of sticking to a one-year update cycle for many of its products. The first iPad hit stores last April, so it could be logically assumed that the new version is on its way.
The Apple rumor mill has a history of prolific, unconfirmed reports. Last week a "Reuters eyewitness" claimed to spot the new iPad at the launch of News Corp.'s iPad-only newspaper, The Daily.
iPad accessory makers have also fueled the rumor fire, with several companies churning out cases that have features like an opening for a camera (which the current iPad lacks) or a space for a larger speaker. But as as PC Mag noted recently, these reports should be taken with a grain of salt. Apple rarely, if ever, comments on rumors. Not surprisingly, an Apple spokesperson declined to comment on the WSJ report.
The iPad has been the dominant tablet on the market, selling 14.8 million units in the nine months since its release, according to Apple. iPad sales made up 17 percent of Apple's revenue in the last quarter, totaling $4.6 billion, the company recently said in an earnings report.
Correction: As commenters have pointed out, this story previously incorrectly listed iPad sales at $4.6 million. It has been corrected.