New iPad 5 and iPad Mini 2: Rumor Roundup For Tuesday's Relase

Apple may release a new iPad 5 model along with an innovative "budget" iPhone, the iPhone 5c, during today's release event at 1pm ET (live streaming here). An iPad Mini 2 may also be in the works.

Check back here for updates.

The new iPad 5 is rumored to be thinner, and set in slightly narrower casing with slimmer bezels according to leaked imaging.  It is rumored to incorporate an improved A6X processor.

While no one knows for sure until tight-lipped Apple emerges with today's release, Tech Radar predicts the Wi-Fi only 16GB iPad 5 could come at a price of around $499.

(Source: Sonny Dickson)

A report by CNET tech writer Rick Broida says the below video by Unbox Therapy features leaked iPad 5 casing.

Stay tuned for live updates and streaming video of today's release event.

UPDATE: No iPad was released in Tuesday's event, but check this page for a quick summary of everything you need to know about the new iPhone technology released today.