Apple is a company that has constantly upgradeable products that make them billions every year. Many are asking what the company can do to top itself, other than coming out with newer versions of its products with only minor upgrades. Such is the case with the iPad, and there are rumors circulating of an iPad Air 3, also known as the iPad Pro (or the iPad Plus). This version of the iPad would have a large 12-inch screen, and could have a release date for Fall 2015.
Ecumenical News states that this new 12-inch iPad would be part of a plan to compete with other Samsung 12-inch tablets, not to mention the Microsoft Surface 12-inch tablet. In addition to a larger screen, some sources have said that the iPad Air 3, iPad Pro, or iPad Plus will be as thin as an iPhone 6, between 6.9 mm and 7.1 mm.
As far as what is inside the iPad Pro or iPad Plus, it could be the Apple A8X/A9 chip with 2GB of RAM, or it could be an A9 processor with 4GB of RAM with 16 GB, 32 GB, 64 GB, and even 128 GB storage options. Other features could include a fingerprint scanner as well as a convenient stylus, which would be a departure from Apple's stylus-free style.
What is very interesting is the audio aspect as many sites claim it will have up to four speakers. One of the reasons why we know this are leaked images of not only the tablet itself but of the accessories, which are not only accommodating of a large screen but openings for the four speakers, one near each corner.
Tech Radar asks a good question with "why isn't it [the iPad Plus] here already"? Part of it could be the demand of the iPhone 6, and how the suppliers struggled to keep up with the demand of that product so much that the iPad Pro got shelved for another year. This certainly didn't stop Apple from making some major adjustments to the iPad Air 2 though.
MacWorld has stated that the iPad Pro/iPad Plus is a rumor and legend, but it has been one of the most speculated products in development by Apple, right up with the Apple smartwatch. Yes, there was a time when the Apple Watch was the stuff of rumor and legend. Of course the Apple Watch is a real product that will be on many Apple users' wrists soon, and it isn't too hard to believe that a product like the iPad Plus/Pro, with so many rumors surrounding it, will also come into being.
As far as a release date is concerned, I am going to assume that we are looking at some time in Fall 2015 with a 100 percent chance of huge sales during the holiday season. There is a slim chance that it could be announced at Apple's WWDC Conference, and the World Wide Developer's Conference has been a famous place for Apple to announce their latest gadget.