Apple has yet again been linked with the release of two new iPad devices, this time the Cupertino-based company is reportedly to launch the so-called ‘iPad 3′ in March, following up with the release of an ‘iPad 4′ in October.

Digitimes has issued yet another of its rumour-mongering reports, citing industry sources in Taiwan, which states that the iPad 3 will launch with a QXGA HD 1,536 x 2,048 pixel display and updated battery, providing longer battery life. The Asia-focused publication says that “its other hardware specifications may not be so amazing as expected,” suggesting Apple may deliver minor upgrade to the iPad 2.

Digitimes reiterates that Apple will slash the price of the iPad 2, reducing it to $399.

According to the report, Apple will follow up its iPad 3 launch in March with the release of the ‘iPad 4′ in October — a release that is said to coincide with the debut of Microsoft’s Windows 8 platform and Intel’s Clover Trail-W platform.

The iPad 4 may deliver upgraded hardware specifications and integrated applications:

The 9.7-inch iPad 4 is expected to come with much upgraded hardware specifications and integrated applications so as to compete with an array of Android-, Wintel- or WoA (Windows on ARM)-based tablet PCs to be released in the fourth quarter, said the sources.

It’s not the first time we have heard that Apple will deliver two iPads, or iPhones for that matter, with Digitimes previously reporting that Apple was working in a smaller 7.65-inch iPad to compete with Amazon’s Kindle Fire and Samsung’s smaller Galaxy Tabs.

The publication has also linked Google with the development of its own 7.85-inch tablet, which is said to run on Android 4.0, its latest Ice Cream Sandwich operating system, and launch with a price point of less than $199.

The report is pure speculation and we believe you should treat it as such, Digitimes has been inconsistent with its supply chain reports, especially in the case of Apple. The Cupertino-based company still enjoys over 60% of the tablet market and reports that it is moving to head off devices released by its rivals does not fit with a company that controls so much of the market.