You could say that Apple has a rapid release cycle when it comes to the company’s products. It’s a given that there will be a new iPhone and iPad every year. Now it looks like the iPad Mini will be joining the annual release cycle as well.

According to Mashable, reports coming out of Apple’s supply chain say that the company is already working on the iPad Mini 2. The sequel to this year’s miniature iPad will feature the all important retina display that has made the new iPad even more of a hit around the world.

A retina display would boost the iPad Mini’s paltry 1024×768 resolution to the current iPad’s resolution – 2048×1536. The current competitors of the iPad Mini – the Nexus 7 and Kindle Fire HD – both feature a 1280×800 resolution. The boost in resolution would certainly give Apple one more reason to flaunt how its products are superior.

Interestingly enough, the sources say that Apple will be making use of Sharp’s IGZO screen technology in the iPad Mini 2. IGZO keeps the screen thin while providing the same color detail that thicker LCD displays can provide.

So when can you expect to get your hands on the iPad Mini 2? The sources suggest that Apple will be putting the new 7-inch tablet into production late this year for a launch in the fall of next year. The company might want to stick to that release schedule. The fourth generation iPad didn’t fare as well as it could have at retail thanks to it launching a mere six months after the third generation iPad.