Apple is getting ready to release a new iPad model, and it's likely to have 128GB of storage memory, 9to5Mac said citing unnamed sources.

This iPad would not be an entirely new model, but an upgrade to the current fourth-generation iPad. According to the sources, the device will come in both black and white, as well as Wi-Fi-only and Wi-Fi+cellular variants.

It is likely that the biggest upgrade, compared to the current iPad lineup, will be in the memory department, though it's not certain. Apple internally calls its 16GB, 32GB and 64GB iPads "GOOD," "BETTER" and "BEST," while this upcoming model is referred to as "ULTIMATE," which suggests it will come with 128GB of memory.

As far as iPad mini goes, there is no info about an imminent launch of a new model, though rumors are afloat about an upgrade to that iPad line for months, Mashable reports.