Apple launched the iPad mini alongside the iPad 4 in October last year and announced the iPad 3 in March 2012. It seems that Apple will be refreshing its iPad models on a bi-yearly cycle and a report from Topeka Capital Market suggests that the iPad 5 and iPad mini 2 will launch in March 2013.

Brian White, an analyst with Topeka Capital Markets, reported that his checks with industry sources at the International CES in Las Vegas indicated that both the iPad 5 and iPad mini 2 will debut this March, which is just five months after the company launched the iPad 4 and the iPad mini.

White further reported that the new iPad 5 will be lighter and thinner than the iPad 4. The iPad 4 features a new A6X processor and the Lightning connector but retained the same design as the iPad 3.

White also reported that that the iPad mini 2 is expected to have the same form factor but will have upgraded components, such as a faster chip. Rumors have been surfacing just after the launch of the iPad mini that the next-generation of the 7.9-inch tablet will feature a better display; however, White never mentioned anything regarding an enhanced display on iPad mini 2.

White also reported that Apple will launch an iPhone in May or June this year in various colors and sizes diverting from the current black and white colors. He, however, did not confirm the source of the this information.

It will be interesting to see if Apple launches the iPad 5 and the iPad mini 2 in March 2013 and whether the predictions bear fruition.

If you bought an iPad 4 or an iPad mini recently, will you upgrade and buy the latest iPad?