It's only been about two months since Apple released the fourth generation iPad model. And now there are reports that an updated fifth generation version is expected to launch Spring of 2013. 

The fourth generation iPad was the first model to feature a retina display along with the new Lightning port, also featured on the iPhone 5. According to the rumor from Japanese blog Macotakara, the fifth generation iPad will be thinner and lighter, resembling the design of the iPad Mini. Apple's new tablet device is rumored for a March release.

Additionally, Macotakra reported that production has started on the second generation iPad Mini.

With increased competition in the tablet marketthe Surface and Nexus 7 released to fairly positive reviewsit appears that Apple is updating and shortening its product cycles.

[Macotakara via Mac Rumors]