The latest rumors for the Apple's iPad 5 slate it for an October launch.

The fifth-generation device is set to be released on an unspecified date in October, according to a report by Jeremy Horwitz of iLounge published on Friday.

The new release date is bad news for those who believe the other rumors that the iPad 5 will be released in March, exactly a year on from when the iPad 4 launched, according to AppleIndisder.

The International Business Times also reported that rumors of a summer launch is expected by KGI Securities analyst Ming-Chi Kuo who stated the device may be released in either June or July.

Horwitz's iLounge report also suggested that the iPad 5 will reportedly have a brand new design.

The design is allegedly very similar to that of the iPad Mini with a thinner and lighter frame with rounded edges and aluminum backing.

Horwitz claimed to have inspected what he believed are casings for the iPad 5, and he described a completely redesigned device with "virtually no left or right bezels, and only enough space above and below the screen to accommodate the mandatory camera and Home Button elements."

He also speculated that Apple will have to adopt new screen technology, like Sharp's IGZO panels, in order to achieve the "noticeably thinner" design which he characterized as a "stretched iPad mini."

"This iPad 5 design is so much smaller that a full internal redesign - complete with a smaller, less power-hungry sequel to the A6X - can be safely assumed," he said. "It wouldn't be a surprise to see the new iPad remain roughly on par with the fourth-generation model in processing capabilities, with the improved screen, dramatically lower size, and reduced weight becoming the key selling points."

The report also offered fresh rumors on Apple's 2013 iPhone lineup, which will reportedly include an incremental "iPhone 5S" refresh with a larger rear flash than is on the current model on the market.

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Apple, Apple ipad 5, Ipad mini, Iphone 5s