• Apple CEO Tim Cook holds an iPad Air 2 during a presentation at Apple headquarters in Cupertino, California October 16, 2014.

Apple CEO Tim Cook holds an iPad Air 2 during a presentation at Apple headquarters in Cupertino, California October 16, 2014. (Photo : Reuters/Robert Galbraith)

Apple Inc. has scheduled its next event in March 2016, wherein the Cupertino-headquartered tech titan is expected to launch iPhone 6c, the second edition of the Apple Watch and an iPhone 5se. Apple loyalists especially excited, as the company is expected to launch its best ever iPad - which has been dubbed as the iPad Air 3.

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Apple too is banking heavily on the iPad Air 3 to revive its declining revenues from iPad sales. According to a report in Engadget, the much-anticipated iPad Air 3 will pack an assortment of stunning features. Based on a drawing of the device obtained by the media outlet, it suggests that the iPad Air 3 will be a smaller version of the iPad Pro or loosely based on it.

While numerous speculations regarding the specs and features of the iPad Air 3 are doing the rounds online, the website stated the upcoming device is like to incorporate a number of features present in the recently launched iPad Pro. For instance, the new tablet will apparently come with quad speakers, a Smart Connector for connecting to accessories as well as a Pencil support. Moreover, the purported drawing of the iPad Air 3 reveals a small hole beneath its camera, which is believed to be an LED flash that is expected to be a bonus for photographers.

Meanwhile, IB Times reported that the iPad Air 3 will be adopting the display technology that exists in the iPad Pro. At the same time, the device is expected to incorporate the photo alignment technique based on UV that will add crisp colors to the display. In terms of dimensions, the new tablet will be 0.05 mm thicker as well as 0.1 mm broader compared to the iPad Air 2.

Reliable Apple product launch analyst and tipster Ming-Chi Kuo of KGI Securities, however, noted that Apple will not be incorporating the 3D Touch to the iPad Air 3 display owing to some "production issues." Substantiating his view, Kau said that perhaps this is the reason why the company did not incorporate the technology in the iPad Pro, either.

As far as other features of the iPad Air 3 are concerned, the new tablet may pack an A9x processor and have 4GB RAM capacity. Even the battery life of the iPad Air 3 is likely to get a major boost.

Watch the iPad Air 3 concept video below: