5.6 and 7-inch OLED iPad rumors surface

Well fear not, a successor to the iPad is in development that boasts some interesting specs. Rumors coming out of DigiTimes indicate that Apple is currently sourcing 5.6-inch and 7-inch OLED panels, presumed to be for a pair of new iPad models which could arrive as soon as in the fourth quarter of 2010.

The sources noted that Apple has recently placed new iPad orders to Taiwan-based component makers for the fourth quarter of 2010 and the first quarter of 2011 with 9.7-inch, 5.6-inch and 7-inch models all included

According to the report, the smaller 6 and 7-inch iPads will mainly target the ebook reader market and distinguish themselves from the current, larger 9.7-inch model, which mainly targets multimedia entertainment. OLED suppliers mentioned in the article include Compal Electronics and Chimei Innolux (CMI). DigiTimes notes that tight OLED capacity may ease in the second half of 2011.