Apple Inc.’s iPad 3 will include a new quad-core CPU, high-definition display and LTE functionality when it drops this spring according to a new report.

Bloomberg News this week reported the iPad 3 has begun increased manufacturing production with a plan to reach full volume by Feb.

The newest iPad is said to include a quad-core CPU for multitasking, HD screen, and LTE (long-term evolution) functionality to utilize next-generation wireless networks.

In addition, the product is being manufactured by Foxconn Technology Group.

The report follows a similar claim by the DigiTimes in Dec. that stated the iPad 3 would be available in three to four months, with production estimated at 9.5 to 9.8 million units in the first quarter of 2012.

The iPad, which currently dominates the tablet market at 30 million units sold, shipped 9.25 million units in the third quarter of 2011.

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