Apple Inc. (NASDAQ:AAPL) can unveil iPad Mini retina this year amidst burgeoning competition, says a report from KGI Securities analyst Ming-Chi Kuo. According to the analyst, though the company is undergoing latest production hurdles, a retina version of iPad mini could be on its way to enter the market.

Apple ipad mini

Earlier analysts said that Apple Inc. (NASDAQ:AAPL) is finding it challenging to manufacture retina version of Mini in very high volumes, indicating it would launch the gadget in 2014.

iPad Mini 2 may lose to competitors if launched next year

However, Kuo believes that the new Mini “may be pulled in for [launch] in late 2013. Since other brand vendors are all expected to have a line-up of new high resolution 7-8 [inch] tablets…over the next 3-6 months.”

He said that iPad Mini 2 may lag behind other brands in the market if it is launched next year. Kuo also believes that iPad Mini 2 and larger fifth generation iPad will have an A7X chip, which will perform better than much talked about A7 chip. The iPhone 5 sits on A6 processor while iPad 4 has speedier A6X processor.

Apple to launch another mini, next year

The confusion kicked in when Kuo talked about another iPad Mini model, which he expects to be launched in 2014. This new iPad mini will have similar features to current Mini, but will be fixed with an A6 chip, which will be an upgrade from A5.

Other reports on iPad Mini retina launch

According to Citi Research, iPad Mini retina will not be launched this year and the newer version of iPad that are lined up for 2013 are “iPad 5 (reduced weight, slimmer bezel, thinner design), iPad Mini (the existing model), and a reduced price iPad Mini (likely priced at $249).

The Wall Street Journal also reported last month that Apple Inc. (NASDAQ:AAPL)’s suppliers are preparing for a new mini with a high-resolution display for a release in the fourth quarter. Apple Inc. (NASDAQ:AAPL) is believed to be sourcing the displays from three companied; LG Electronics Inc. (KRX:066570) (KRX:066575), Sharp Corporation (TYO:6753), and Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930). As per the Journal, earlier, the iPhone maker contracted just two manufacturers LG and Sharp, but later included Samsung, a well, to make sure that it faced no production glitches. Journal also revealed that the new tablet will be of the same size as the current one, 7.9-inch, and may have multiple colors of back covers.