A Wall Street Journal report claims the long rumored iPad 3 will enter production in October, preceding a 2012 launch. The report, which requires a Wall Street Journal subscription to view, notes “people familiar with the situation” who say Apple has already ordered key components for its next slate device.

The iPad 3 is expected to sport a high resolution ‘Retina’ display, which will reportedly offer a doubled display resolution. Said specifications would allow for a higher pixel density and a more crisp graphical experience.

Rumors initially claimed an improved iPad 3 was slated for a Fall launch, not even a year after the successful campaign of the iPad 2. Later reports noted a high resolution display shortage as the reason for the postponed launch.

One unnamed component supplier estimated that Apple will attempt to manufacture more than 1.5 million units this year, ahead of the device’s launch in ‘early 2012’. Apple has not yet confirmed the existence of the iPad 3, let alone a launch date.