Sterne Agee analyst Shaw Wu has predicted iPad shipments could reach 55 million units in 2012 if Apple's iPad 3 represents a "significant refresh" over previous models.

With Apple set to lift the lid on the next iPad in San Francisco on 7 March, Wu believes the addition of 4G LTE technology – amongst other features - could result in a surge in demand throughout the course of the year.

To 4G or not 4G

"We view the potential inclusion of 4G LTE as key," said Wu in an investor note.

"We continue to believe this significant refresh will likely help drive higher iPad sales and help further differentiate from Amazon’s Kindle Fire and the myriad of Google Android offerings out there."

Wu also believes upgrades in iPad 3 raise the prospects of a major update to Apple's iPhone in the near future.

"We also view as a positive indicator that the upcoming iPhone refresh in the fall timeframe will likely include this key feature as well," he concluded.

"Our industry checks indicate Apple has made notable progress in improving battery life that has plagued competitors. This is due to AAPL's ownership of core intellectual property including systems design, semiconductors, battery chemistry and software."

An annual iPad shipment total of 55 million would represent a jump of almost 70 percent on figures for FY2011, when Apple sold a total of 32.39 million units.

[source: Forbes]