By Michael Oleaga / m.oleaga@latinospost.com (staff@latinospost.com) | First Posted: Oct 09, 2013 01:51 PM EDT

Apple's next generation tablets are reportedly set to debut in late October.

According to people familiar with Apple Inc., the Cupertino-based organization will launch an invitation-only event on Oct. 22. The purpose of the event is likely to debut the iPad 5 and iPad mini 2.

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The iPad 5 is rumored to follow a design similar to the current iteration of the iPad mini as its width and depth are expected to slightly shrink with the introduction of a new shell and thinner bezel. Despite the changes, the iPad 5's screen will remain at 9.7 inches, based on reports.

The iPad 5 is likely to run on Apple's latest processor, A7X, but no word yet if the tablet will carry the new fingerprint sensor.

In regards to the iPad mini 2, the 7.9-inch tablet will maintain the A6 processor currently utilized on the iPhone 5c and the discontinued iPhone 5.

"What is less certain is which screen resolution the new iPad mini will utilize. It is unclear whether the new iPad mini will receive a Retina display, as reported by The Wall Street Journal," Current Editorials' Micah Singleton wrote. "While Apple has been testing a second-generation iPad mini with Retina display, battery life has been an issue for the smaller device, according to our sources. Apple has also been testing a non-Retina version of the iPad mini, as first reported by 9to5Mac."

The iPad 5 and iPad mini 2 are reported to go on sale on Nov. 1.

Apple has declined to comment on the rumored event and release dates.

As Latinos Post reported, Apple has been facing tougher tablet competition as its market share is down considerably when comparing the second quarter of 2013 to the same period last year. Based on the International Data Corporation's (IDC) figures, Apple finished the second quarter this year with 32.4 percent of the market share, which is down from 2012's 60.3 percent.

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For the latest updates, follow Latinos Post's Michael Oleaga on Twitter: @EditorMikeO

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