Gadget freaks were waiting with bated breath for Apple to take the wraps off the iPad Air 3 along with iPhone 7 during the recently concluded Apple event, but much to their dismay, that did not happen. This has stirred conversations among avid Apple fans whether or not the iPad Air 3 may even see the light of day.

Rumors are running rampant indicating that fans are in for a really long wait as far as the iPad Air 3 release date announcement is concerned. These speculations stem from the fact that it has been two years since Apple launched the iPad 2, but since then the Cupertino based technology giant has remain tight lipped about the new iPad Air series for its consumers.

iPad Air 3 Release Date, Specs, Features & Price

It is expected that the successor to the iPad Air 2 will be up for grabs for a comparatively lower price citing the fact that the tablet market has bogged down in recent years. The purported Apple iPad Air 3 is likely to be a cheaper upgraded variant for those using its precursor, the iPad Air 2, according to TheReporterTimes.

If recently surfaced reports are anything to go by, the iPad Air 3 will be available in the range of £300 to £400 (about $300 to $521). The 16GB variant will be available for £400 (about $521) provided it releases this year else it will come with a lower price tag if it is released in 2017.

Just last month, acclaimed analyst Ming-Chi Kuo released a new research report centering on his anticipation for the future of the iPad lineup. He predicted that three new iPads ranging from 9.7-inches to 12.9 inches will be released next year, MacRumors reported.

In his research report, Kuo noted that Apple is planning to debut a new 10.5-inch iPad variant sometime next year to tag along with a 12.9-inch iPad Pro 2 and a low-priced 9.7-inch iPad model. Interestingly, Kuo remained mum about the fate of the 7.9-inch iPad mini, but fans and industry watchers alike are hazarding a guess that the model may be scrapped since the 5.5-inch iPhone Plus models have caused a decline in demand for the company's smallest tablet.

When the popular tech firm unveiled the iPad 2, fans were not expecting to see some radical changes, but much to their amusement, the device was a much-improvised version. That being said, it would be hardly surprising if Apple's new device come packed with an array of awe-inspiring features.

The iPad Air 3 is said to feature a 9.7-inch screen with 2048×1536 resolution (264ppi pixel density). Moreover, the purported device is expected to pack a much faster, compact and power efficient A9 processor. The iPhone 6 and iPhone 6S run on the A9 chip.

Contrary to the iPad Air 2 and iPadPro that feature 8MP units, the Air 3 is likely to sport a 12MP camera.

Aside from the older features including fingerprint scanning technology and Touch ID, the Air 3 is expected to boast a slew of new features such as Lightning ports and Bluetooth 4.2.

Moreover, since iOS 10 has already been rolled out, it is likely that the impending iPad Air 3 would run on the same software.

These are mere speculations though, and readers are advised to take them with a huge grain of salt until Apple officially announces the release date, price and other details for the much awaited iPad Air 3.

Stay tuned in here for more updates, news and latest rumors for the upcoming iPad device.