Will a New iPad Mini be Too Little Too Late?

Another new potential product from Apple (NASDAQ:AAPL) has hit the rumor-sphere, and it’s a reasonable guess at what the iPhone maker might try to do, but the forecast doesn’t add much resolution to Apple’s current predicament.

DisplaySearch analyst Paul Semenza said that it appears likely Apple will try to come out with a new model of its popular iPad Mini that will include one of the company’s high resolution Retina displays.

The Retina display is a major step up in resolution, with double the pixels per inch compared to the current screens. While the current iPad Minis may be completely functional with the current screens, higher resolutions would fit true to Apple’s emphasis on elegance.

Semenza said DisplaySearch expects the upgraded devices to come around the third or fourth quarter, based on supply chain data. Panel production is predicted to take place in the third quarter…