Apple is planning to overhaul its entire product line in 2012, meaning that it's more than likely it will be the year we will see the iPad 3 and the iPhone 5.

According to Digitimes – which has a very wobbly track record when it comes to predicting all things Apple – order volumes are being finalised as you read this and key parts for the new iPad are also being ordered.

The refresh is said to be a significant one so we are likely to see massive changes to the products, rather than minor tweaks.

Check out what we want to see in the iPad 3 in our video below:

iPad prototype

Interestingly there seems to be two separate iPad prototypes in development, with the codenames J1 and J2.

What could the J mean? A nice tribute to Jobs, perhaps?

While production of an iPad 3 looks likely to happen before the year is out, Digitimes reckons that manufacturing of a new iPhone and iMac range won't begin until the middle of 2012.

Given that this is Digitimes and it is a rumour about Apple, we are taking all of this information with a liberal sprinkling of salt.

Because of this we have given the rumour a 'possible' on our lovely rumour meter.

Possible

Via Digitimes