Here we have rounded up some of the weird and wonderful rumours that have been circulating over the last few months to provide you with a glimpse of what details we could see appearing on the iPad mini 2 and iPad 5.
Display
Many sources including BrightWire, Digitimes and The Wall Street Journal expect to see Apple's Retina display on the new iPad mini.
This would mean the 7.9-inch screen would sport a resolution of 2048 x 1536 with a pixel density of 324ppi, four times that of the current iPad mini.
In terms of the next-generation iPad, rumours from publications including Macotakara and Digitimes are pointing towards a thinner bezel, a thinner 0.2mm glass substrate and the current iPad mini's GF2 touchscreen technology.
It is believed the 9.7-inch display on the iPad 5 will still be a Retina display and will sport a resolution of 2048 x 1536 pixels with a pixel density of 264ppi, meaning it will be the same as the current iPad.
Build
The new iPad mini is thought to be coming in at 0.3mm thicker than the current iPad mini, as well as 0.2mm wider according to MobiLeaks and Macotakara. This is said to be down to the introduction of a Retina display.
There have also been reports from The Wall Street Journal suggesting the new iPad mini will be available in a variety of colours like the iPod touch. But more recent rumours suggest the colour theme could instead be reminiscent of the iPhone 5S including space grey and possibly the gold option.
The iPad 5 is rumoured to be 33 per cent lighter than its predecessor and 15 per cent thinner. This is said to be down to the alleged removal of one of the two LED backlighting bars, as well as the GF2 technology for the display.
Many rumours from sites including Weibo and sw-box.com claim the new iPad will take a number of design tips from the iPad mini, featuring a more curved look and speaker relocation to either side of the Lightning port.
Fingerprint scanner and features
Both the new iPad mini and the new iPad are rumoured to be coming with the Touch ID home button, which debuted on the iPhone 5S.
Unbox Therapy presented how the iPad 4's current home button will not fit in the new iPad's build but the Touch ID home button from the iPhone 5S would, while an image of the alleged new iPad mini emerged from China showing it in gold with the fingerprint scanner.
While the build of the new iPad is rumoured to be changing quite a bit, the new iPad mini is looking to be remaining the same in terms of button and element placement.
Claims and images suggest the new iPad will gain a rear microphone on the back, as well as the volume button split into two separate buttons with its new iPad mini-style look.
Camera
Both the new iPad mini and the new iPad are rumoured to be getting upgraded cameras with both currently featuring a 5-megapixel rear camera.
KGI Securities analyst Ming-Chi Kuo is responsible for the rumour suggesting the two models would be coming with an 8-megapixel rear camera. Although it doesn't specifically suggest it anywhere, it could mean the new iPads come sporting the same camera found on the iPhone 5S.
Of course rumours will always be rumours. There are some that may become a reality, while others remain a myth but at least there is less than 24 hours till we find out for sure.