We've known for a few days now, that the next iPad (5th generation) could feature a major design change from its four predecessors. A rumor making waves stated it could look more like an up-scaled iPad mini, with its side bezels (along the longer side) being trimmed down, and its back made less curvy. As 9to5Mac now found out, this rumor wasn't exaggerated.
Pictured here is the anodized aluminum back-panel of the 5th gen. iPad (likely a cellular+WiFi model); alongside today's iPad mini. The panel does indeed look like an upscaled mini. It doesn't look longer than the 4th gen. iPad, but narrower. This means that a rumor suggesting it could feature a larger 10-inch screen is busted; the 9.7-inch one lives on.
Lastly, sources confirmed that Apple is indeed working on 128 GB variants of the 4th generation iPad to serve as "stopgaps," and that the new iPad will not make it any time soon, but instead some time in October. It's more likely that Apple could launch a slightly updated iPhone 5S this spring.