Upgraded iPad 2 launch in Spring 2012, iPad 3 launch Fall 2012
The Apple iPad may be heading towards the same type of release pattern as the iPhone has seen in the last couple years. Digitimes reports that rather than seeing a new iPad 3 in the Spring of 2012, we should see a slightly upgraded iPad 2. The upgraded iPad 2 (still unnamed) should feature improvements to the hardware and possibly new software features as well. Like the iPhone 4 to the iPhone 4S and the iPhone 3G to the iPhone 3GS, the body for the iPad 2 (iPad 2S) will remain the same, but have upgraded peripherals within.
The 'Real' iPad 3 should make it's debut later in the year sometime during the Fall 2012, where it is expected we will see 'major' improvements to the screen resolution which have never been manufactured previously. Samsung, LG and Sharp are all manufacturers involved in making the new screens for the iPad 3 which are rumored to carry 2048×1536 resolution. One main reason for pushing the iPad 3 to Fall 2012 are the rumored production issues by LG and Samsung.
Source - Digitimes