Apple faces increasingly tougher competition in the tablet market, but the next-generation iPad will reportedly boast new display technology and a slimmer model.

Consumers seem to be favoring smaller-sized tablets with more affordable price tags, but the Cupertino giant reportedly plans to fight this trend with its iPad 5. According to recent reports, Apple is looking to unleash a more compact full-size iPad model, packing new display tech into a slimmer form factor.

Recent reports claimed that Apple will build its next-generation iPad on the iPad Mini, making the 9.7-inch slate easier to hold due to smaller bezels while also offering more screen real estate compared to its smaller rivals.

According to CNET, the iPad 5 may sport a new LED backlight that would allow Apple to build a lighter tablet with a thinner design. The publication received an email from an NPD DisplaySearch analyst Paul Semenza, suggesting that Apple will cut the size of the LED backlight in a bid to reduce the overall size of the iPad. The Cupertino giant is also reportedly considering other changes, including a shift to a film-based touch sensor.

These changes, however, are still in the rumor state, which means that Apple could also opt for Sharp's IGZO displays, as previously rumored. Sharp's technology is currently associated with smaller displays on various products on the Japanese market.

When Apple first introduced the Retina Display it touted the "resolutionary" benefits it brought, stirring some waves. The Retina Display, however, also meant adding some weight to the device and contributing to a thicker form factor.

"It is not yet clear if there will be a big change to the display — such as using IGZO," the analyst told CNET.

Apple was originally expected to pack Sharp's technology in the third-generation iPad, but obviously chose a different path. It seems that with each upcoming iDevice reports of an IGZO touch start surfacing again, but nothing is official this time either.

Future Apple products always draw a lot of rumors and speculation, and it's always tough to determine which ones will prove to be true. Amid rumors of an iPad Mini 2, and iPhone 5S and the next-generation iPad 5, Apple seems busy planning its next big thing(s) and seeking a way to shake things up again. What would you like to see in the iPad 5?