The rumors about the next generation iPad never seem to die. The latest one claims that Apple's third generation tablet will sport an "amazing" display and a faster processor, but the body size will remain the same as the iPad 2.

An anonymous Apple employee told the New York Times that the iPad 3 is already "being testing inside of the company."

According to the source, the new device will be "essentially the same size and shape as the iPad 2," with "an improved and 'truly amazing' screen" and a faster processor.

Nevertheless, no one can say with certainty whether Apple's third generation iPad will be named as iPad 3 or iPad 2S. The former one means there will be radical redesign, whereas the latter implies the change will be more modest.

You might also be wondering when the new tablet will be available. AllThingsD reported on Thursday that the iPad 3 (or iPad 2S) might debut at Yerba Buena Center for the Arts, San Francisco, in the first week of March.

And the device will reportedly hit the market within 1-2 weeks after the unveiling event.

Previous rumors suggest the iPad 3 (or iPad 2S) will sport a powerful quad-core processor, Retina Display, better battery life better camera, 4G LTE (Long Term Evolution) network and improved Siri.