They were earlier expected to launch it this year itself to cash in on the holiday season.
But the launch is pretty much delayed because of supply constraints.
The company aims to have enough units at launch to ensure that there is no shortage once it goes on sale.
Apple iPad 3 is again expected to set a high bar for all the competing products in the market.
Reports say that it would feature a display capable of 2048 x 1536 resolution which would be better than anything available in the market.
And it would be unlikely that we would see comparable products in the market for a long time.
Apple has the advantage of having volumes which allows them to order in bulk which results in shortage of similar components for rival Tablet PC manufacturers.