Apple may soon release a new iPad Mini, and it could be the last model of the tablet line, claims a report by the Chinese news portal, Economic Daily News.

The latest model, iPad Mini 3, was released in October last year. The Mini comes with iOS 8, a 7.9-inch Retina display, an A7 chip and updated wireless technologies.

It features Touch ID technology, which gives a more advanced level of security by using the user's fingerprint, which Apple describes as "nature's most perfect password".

The Touch ID technology also allows secure purchases in the App Store, iTunes and the new Apple Pay feature.

According to the reports, Fubon Hardware investment advisor Liaoxian Li said that Apple could kill the line of iPad Minis so the company could focus on larger iPads.

Apple released the first iPad Mini in 2012. It had been the fifth model in the iPad line and the first in the iPad Mini line.

A Bloomberg report in August 2014 said that Apple had been preparing to manufacture its largest-ever iPad, which is reported to measure 12.9 inches. The new model was supposed to be released this year. This is further supported by a report from Phone Arena. It claimed that Apple wants the 12.9-inch iPad Pro to be its flagship tablet for the year.

Rumors about the product include four speakers, a second connector port, a stylus, and an optional keyboard and mouse, according to a separate from Phone Arena.

Meanwhile, Apple neither confirmed nor denied the rumor. 

If the rumored release of iPad Mini 4 is true, the model will come with Apple's new iOS 9. The new operating system supports a split-screen feature, easier access to news, easier flip through different apps and improved Maps and Notes apps.

iOS 9 also supports Apple Pay, which allows easier use of credit cards, and CarPlay, which makes allows a wireless and hassle-free driving experience.

Meanwhile, Apple recently released a new iPod Touch, the sixth generation of the iPod line and the first model update in three years. Described as "the best iPod Touch yet", it comes with a new eight-megapixel iSight camera.

The new product was released in hues of space gray, silver, gold, pink and blue. It also comes with an A8 chip for an improved gaming experience.

The company's latest Apple Watch has also been circling stores. The product comes with advanced features that track the user's workout and fitness activities. It can also function as a travel tool  with its navigation apps.