With the iPad Mini 4 rumored to be released in October, Apple Inc. fans are getting more excited to get their hands on the device since it is rumored to come with a highly-advanced processor.

Many people have speculated that after the release of the iPad Mini 3, Apple Inc. will not follow the series with another device but that may soon change. According to multiple outlets, the Cupertino giant has sought the services of its smartphone rival, Samsung, to develop a key component of the device. 

"The latest processor, the A9 chip is being developed by one of Apple's chief competitors, Samsung with the company winning the right to produce Apple's orders for the next iPhone series due to be released in September," explained the Inquisitr.

Citing "people with direct knowledge of the matter," Bloomberg reported that Apple Inc. has indeed sealed agreements with Samsung but company reps have refused to comment on the matter. "Winning this order from Apple will help the world's second-largest chipmaker rebound against TSMC, which last year ended Samsung's monopoly over contracts to make iPhone and iPad chips. Both manufacturers have boosted capital expenditures to gain business from Apple and Qualcomm Inc. in the more than $300 billion semiconductor industry," wrote Bloomberg.

As for the features of the upcoming iPad Mini 4, VCPost said it is rumored to have a 7.9-inch screen, a lock/mute switch on the microphone hole and a slimmer design than the iPad Mini 3. It added that the device will have a 2 GB RAM for the iOS 9, a Touch ID system for better security and Apple Pay support for easier online purchases.

In a similar report, TechRadar mentioned that a recent leak of the iPad Mini 4 showed a metal frame with an Apple-shaped cut-out, adding that more changes can be expected from the upcoming installment.

The release of the iPad Mini 3 has sparked a lot of criticism from users with VC Post noting that the device is similar to the iPad Mini 2. Users are hoping that Apple Inc. will not make the same mistake this year for their iPad Mini series.

The iPad Mini 4 may arrive around the same period as the next iPad Air which is believed to sport a high-quality stereo speaker, according to Motoring Crunch.

PC Advisor estimated that the iPad Mini 4 could cost around $460 as its introductory price and that previous models will certainly be slashed from their lineup because of this new offering.