A new report suggests that the production partners of Apple are all busy working on the new model of iPad. As the Company is known to remain tight lipped about all its upcoming product launches, this time again it has little or no information to reveal.

However the Company has never ever denied the fact that it plans to follow up on one of its most successful products. Ever since the launch of the iPad, around $5 billion worth of iPads have been sold in the three quarters.

And if we follow the general trend of the iPhone, it can be said that the iPad 2 might come up around the first anniversary of its predecessor’s launch: April 3, 2011. the Reuters had reportedly tracked a prototype of the iPad 2soon after the launch of News Corp’s iPad publication.

Also as per sources the Chinese makers of the iPhone and iPad, the Foxconn have been asked to manufacture the iPad 2 in market-ready quantities by the end of February.

The widely-held belief that the iPad 2 will feature a front-facing camera, enabling use of the Facetime videoconferencing app has been verified. The 3G version too is likely to be made available on Verizon and AT&T, with Sprint and T-Mobile still shut out.