Apple's iPad Mini Update to Include Retina Display

NEW YORK ( TheStreet) -- Apple's ( AAPL) next version of the iPad mini was rumored to not include Retina Display, the crystal clear screen that Apple has used on the iPhone and larger version of the iPad. That rumor may be untrue, however.

The Wall Street Journal reported the next version of the iPad mini, which has helped Apple maintain its lead in the tablet market, according to IDC, and has held off Google's ( GOOG) Android operating system from overtaking the top slot, will have a higher-resolution screen than its predecessor. However, it may have to use a "frenemy," Samsung, to keep its lead.

Apple couldn't immediately be reached for comment for this story.

Apple sold 14.6 million iPads in its most recent quarter, helping the company generate $35.3 billion in revenue. That was down from the year-ago quarter, when Apple sold 17 million iPads, aided by the release of a new iPad in March 2012.

Samsung makes the high-resolution screen that goes into the iPad and will likely go into the next version of the iPad mini. This comes as Apple has tried to ween itself off its reliance on Samsung, as the two companies have become entrenched in legal battles and battle each other on the shelves in both the smartphone and tablet markets.

There have been reports that Apple would make two versions of the iPad mini, one without Retina Display, and one with. The one with the higher-resolution screen could potentially be released in 2014, despite Apple's penchant for releasing product updates once a year.

Rumors about the next-gen iPad mini started swirling soon after the first one was released in October 2012. It's expected that the next version will be similar in size and shape to the original, with a slimmer design than the larger 9.7-inch iPad, as well as a thinner bezel, both of which have proved popular with consumers.

The 7.9-inch iPad mini update could also come in multiple back colors, similar to what Apple has done with its iPod Nano line. Currently, the iPad lineup, similar to the iPhone, are only available in black and white.

In other news, Apple's price target was raised to $450 from $400 by Jefferies analyst Peter Misek, noting that recent concerns about iPhone sales in the fiscal fourth quarter may be unwarranted.

"We see little downside to our CQ4 iPhone est as ~37M iPhone subs will be coming off of contract, providing a floor," Misek wrote in a note. However, we believe high-end smartphone saturation is extending replacement cycles and that many will skip the 5S and wait for the iPhone 6."

Apple shares were higher in early Thursday trading, up 0.62% to $455.34.

-- Written by Chris Ciaccia in New York

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