Apple Inc. might release another version of iPad as its iPad 2 is facing heavy competition from other tablet makers. But the sales of their existing iPad isn't slowing down and Apple doesn't seem to be intimidated by the onslaught of Android.

Some of the major tablets that could make Apple nervous are: Samsung Galaxy Tab 10.1, Motorola Xoom, RIM PlayBook, HTC Flyer, HP TouchPad, Cisco Cius, LG G-Slate, and Acer Iconia Tab A500. The tablets come in different form factors sporting display sizes like 8.9-inch, 10.1-inch and 7-inch.

Meanwhile, there is speculation that in order to counter the heat from other tablet makers, Apple will introduce another iPad within this year with higher display resolution, camera with flash, Quad-Core processor, iOS 5 and retina display.

Other rumored features of the next iPad include a Thunderbolt port (that will make data flow and connectivity lightning fast), Wireless synchronization (user are expecting to finally bid adieu to the traditional wired connections).

A new SD card slot will also be expected which was previously absent in iPad 2. If rumors are to be believed then Apple will also introduce 3D to its upcoming tablet.

Though Android is a major player in the tablet market, they are yet to give tough competition for Apple. Apple's features are extensively varied from Android or WebOS or QNX which means loyal Apple fan base remains the same. Since there is no reason to fear a potential loss with respect to buyers, Apple may not be inclined to launch a new iPad new soon.

Must Read: Apple iPad 2: Will 10.1-inch Toshiba Thrive pose a threat?  

 So will Apple release another version of iPad?

Click slideshow to view iPad 2 features and the eight iPad 2 contenders that can put pressure on Apple to release the next iPad: