The Wall Street Journal is reporting that a new version of Apple's iPad -- one with a faster processor and at least a front-facing camera -- is now being manufactured.

Despite earlier reports of improved resolution, the unnamed sources in the WSJ report fail to corroborate that rumor, saying that the new iPad will have a resolution similar to its first-generation cohort. "People familiar with the situation said Apple has had trouble improving the display technology, in part because of the iPad screen's larger size compared with the iPhone," WSJ reports.

However, the new device is allegedly lighter and thinner than the current iPad, will boast more memory, a more powerful GPU, and will sport at least a front-facing camera for video conferencing. 

Since its debut in last April, the iPad has reportedly moved 14.8 million units. The iPad 2 is expected to launch in the next few months, and will be available from both Verizon and AT&T at roughly the same price as the current model. Analysts Piper Jaffray & Co. predict Apple will move 27 million iPads this year, while others predict a number as high as 35 million units.  

Meanwhile, research firm IHS iSuppli believes that the iPad's market share could decline to less than 50% of the tablet market that by 2013.