All Apple site 9to5mac reported a new iPad model is in the works. The new iPad, which will come in black and white, will be the fourth generation iPad with Retina Display lineup. 9to5Mac reports that the new iPad will have both Wi-Fi and cellular options, and that it will join the existing models rather than replace them.

According to 9to5mac, pricing for the new iPad will be at $799 for Wi-Fi only, and $929 for Wi-Fi + Cellular, which supports the notion of a model with higher storage capacity.

The new iPad at 128GB, will have a new SKU as well, in which Apple may aim at the educational and government markets.  As 9t05Mac points out, the new ipad will be available in 10-packs for educational institutions, which may explain the higher storage capacity and the new SKU..

A 128GB model would differentiate the current iPads as well as the iPad mini.  Currently iPads come in 16, 32, and 64GB versions.  It is also not surprising that a new iPad is in the works since Apple updated the iPad in October, and it is about time for Apple to release a new or upgraded version sometime this spring or early summer. A 128GB iPad is more of an upgrade instead of a completely new design, though that may be in the works as well.  So expect the 128GB iPad as a high end upgrade for consumers.

9to5Mac is a reliable Apple source with many connections in Apple’s retail partner chain, so this rumour may well be true. Apple is known for quick product turnarounds so will we be able to find out just how true this report is in the next few months, if not earlier.