Going by the latest report provided by an analyst at Concord Securities, Ming-Chi Kuo, the next generation iPad aka iPad 2 will feature better hardware in terms of anti-reflective and 30% thinner screen, a 1.2GHz Cortex A9 dual core processor, SGX 543 dual-core GPU and 512MB RAM (just like iPhone 4).

The report reads,

The improvement of iPad 2 display focuses on thickness and anti-reflection, not resolution.

iPad 2 display module is 30~35% thinner than iPad 1 and it’s helpful for better form factor. Thanks to anti-reflection, iPad 2 could have better sunlight readable experience and it’s helpful for Apple to compete with Amazon’s fast growing Kindle business.

The most important reason why iPad 2 won’t have retinal display is yield rate of panel making. At this point, making high resolution and bright IPS/FFS panel is not easy and the production volume and cost couldn’t meet Apple’s requirements.

About the two cameras in iPad 2, the report says,

iPad has two cameras. Front camera is 0.3 mega-pixel [VGA, like iPhone 4] and rear one is 1 mega-pixel [like iPod touch, rather than iPhone 4]. Front camera is for Facetime and Photo Booth and 0.3 mega-pixel is enough because the resolution of iPad 2 is 1,024×768. Rear camera is for applications such as video recording and augmented reality.

It’s hard to determine the authenticity of the information according to MacRumors, but the details above are quite justified.