DigiTimes claimed in a report that the iPad 3 will be released in May with the fourth iPad being released in October.

The report claimed that the iPad 3 will have a longer battery life and a full HD QXGA (1,536×2,048 pixels) display. The report also claimed that the step up to iPad 3 will be minimal with few changes (think the iPhone 4 to 4S) instead of a major overhaul. According to DigiTimes Apple will also slash the prices of their iPad 2 to $399.

The website also claims that the iPad 4 will have significant upgrades to increase its power and will run “with killer applications”.

DigiTimes reports on the electronics and computer industries in Taiwan and China and claims to have heard the news from industry sources.

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