Apple is planning an event in February to announce the release of the next-generation iPad, according to Japanese blog Macotakara.

Macotakara stated that the delay is due to the fact that the Chinese factories that are assigned the production of the iPad 3 units will be in the midst of the Chinese New Year celebrations, which begin early next week. According to the report, the initial production batch is targeted for shipment in early March. The blog reports that Foxconn Technology and Pegatron Technology started next generation of iPad assembly with Foxconn bearing 85 percent and Pegatron taking 15 percent of the production load.

Although Apple has said nothing about a next generation iPad, other sites, including Taiwan-based Digitimes that tracks component suppliers, have said that the iPad 3 launch is set for this quarter.

The iPad 3 is rumored to be powered by a quad-core A6 processor, a successor to the Apple-designed A5 in the iPad 2 and will feature a high resolution QXGA (2,048 x 1,536 resolution) display in the same 9.7-inch size as the current iPad 2. The iPad 3 could feature an up-scaled version of Appleā€™s famous Retina display. It could also support LTE 4G network connectivity and could include personal voice assistant Siri.