The highly anticipated gadgets are set to be released in 2012 as a part of Apple’s product overhaul, the DigiTimes reports.
The site writes that an insider told them that Apple is in the process of ordering “volumes for keyparts and components” for next-generation devices, including the iPhone 5 and iPad 3.
The source also claims that the next generation iPad 3 will arrive in stores in Q3, the July to September quarter, of 2012.
According to sources, Apple will have an inventory of next-generation iPads with about 2 million units by the end of 2011.
As for the iPhone 5, DigiTimes claims that the device is unlikely to be revealed until “the second half of 2012” and that it would be redesigned completely.
According to reports, the gadget will be extremely light and thin and it will feature a 4-inch display.