Rumor: Apple’s iPad 3 will actually be named the iPad HD

One day before Apple finally reveals its long-awaited new tablet, insiders are claiming that the Cupertino company will ditch a token numerical suffix model, instead calling it the iPad HD.

Citing an anonymous source with a solid track record, VentureBeat reported that the name is both a nod to the tablet’s rumored eye-popping QXGA screen and a subtle admission that other hoped for features, such as a quad-core CPU, won’t be present. Previous reports have suggested the device will be able to display near-Retina visuals at a 2048×1536 resolution.

Fueling a different rumor, the site also claimed Apple would release a 7-inch iPad model meant to compete directly with Amazon’s Kindle Fire and Barnes & Noble’s Nook Tablet. The new tablets garnered solid sales during the holidays thanks in large part to their respective $199 and $249 price points. A smaller, cheaper iPad could potentially disrupt the companies’ disruptive strategy.

Amazon is believed to be developing a more full-featured 10-inch Kindle Fire revision to release later this year.

Meanwhile, CNet lent credence to the name swap possibility, revealing that its own inside source said the same. The site also spoke to the owner of independent website iPadHD.com, who said Apple never reached out to him over the conspicuous domain name. The currently inactive fansite hasn’t been updated since August 2010, mere months after it was launched. (via PCWorld)