Apple may release the new iPad 5 as early as April instead of a previously rumored October launch.

The recent rumor over the release of the next-generation flagship device by Apple was reported on Friday by Apple Insider.

The report stated that Piper Jaffray analyst Gene Munster claimed that Apple will hold a showcase event in early Q2 to launch a new version of the iPad, which will feature an all-new design.

Munster allegedly sent a note to clients that stated: "We believe that looking at history of time between Apple product launch events suggests that the company will introduce something new in March or April. Over the past two years, the spring event has been iPad updates."

The last iPad launched by Apple was the iPad Mini which followed the iPad 4 in October.

Previous rumors slated the iPad 5 to possibly be released in October in similar fashion to its predecessor, according to a report by Jeremy Horwitz of iLounge.

Apple has yet to release any official statements on the matter of a release date, but reports predict that the iPad 5 will have a body design similar to the iPad mini and an upgraded Retina display.

There may also be a wider variety of new color options and a new casing based on supposed leaked photos obtained by 9 to 5 Mac.

The design is allegedly very similar to that of the iPad Mini with a thinner and lighter frame with rounded edges and aluminum backing.

The internal specs are likely upgrades from the iPad 4 which will like remain roughly on par with the fourth-generation model in processing capabilities. It is also expected that Apple will use the improved screen, dramatically lower size, and reduced weight as selling points to attract new tablet users.

Tags: ipad 5 ipad mini ipad 4