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Apple to Release iPad 4 Update (Report)

Psy THR iPad Cover - P 2012

The tech company will upgrade to a new model, according to reports.

Apple is preparing to release a new iPad 4, CNET reports.

The tech news website cites the blog 9to5Mac, which published a story on Sunday with word from sources that the company was working on an updated version of the fourth-generation iPad that has Retina display and possibly more memory (maybe even 128 gigabytes's worth). The design and color would remain the same.

The revamped iPad 4 (pricing not yet known) would be added to the roster of 16GB, 32GB and 64 GB models, and is allegedly classified as the "Ultimate" in a "premium" stock listing, an insider at a U.S. retailer told 9to5Mac, which speculates that this latest memory-packed iDevice could be meant for retail or government use rather than for consumers.