Apple plans to launch a new “iPad 3″ with a Retina Display this coming March, and then a second “iPad 4″ model in October that will ship with “killer applications.” Citing unnamed sources from within Apple’s component supply chain, DigiTimes on Friday reported that Apple is prepping both new iPad models for a 2012 launch. 

The first model, dubbed iPad 3, will feature a QXGA 1,536 x 2,048-pixel HD display and significantly longer battery life, and Apple reportedly has plans to drop the price of its current iPad 2 model to $399 when it launches its new tablet in March.

A second new iPad referred to as the iPad 4 by component suppliers will then launch in October, perhaps alongside Apple’s next-generation iPhone. BGR exclusively reported in December that a redesigned iPhone with an aluminum case will launch this coming fall. Few details surrounding the iPad 4 were provided, though the site did say it would include a 9.7-inch display along with “much upgraded hardware specifications and integrated applications.”

See more tech stories on the FOX Business Technology homepage.

DigiTimes has claimed in multiple reports that Apple plans to launch two new iPads in 2012, but other sources suggest the second model is in fact an early prototype of Apple’s 2013 iPad model. Instead, Apple will reportedly launch a new iPad model in March while maintaining iPad 2 production and selling a single model of the older tablet at a lower price.

This content was originally published on BGR.com

More news from BGR: