Front and Rear Camera On Next Generation iPad Confirmed?

We have been seeing a steady inflow of  rumors relating to the next generation iPad over the past one week. Check here for a slideshow of iPad 2 rumors.

We had already learned from a few sources that the next generation iPad could come with five new features that include retina display and USB support. Now a fresh report claims that the new iPad – rumored to launch in January 2011 – could come with cameras on the front and rear sides of the device. According to the sources, Apple has been working with Largan Precision; a Taiwan based manufacturer, in the production of cameras for their upcoming tablet device. Incidentally, Largan is also the manufacturer of the 5-Megapixel camera sensors for iPhone 4.

We are hearing that Cupertino could bring a VGA front side camera for FaceTime video calling as well as a 5-Megapixel rear camera on the iPad to effectively take on competition from the likes of the Galaxy Tab and possibly Playbook.

Apple continues to lead the market in the tablet space. However, the incorporation of these features will ensure that they will hold on to the lead for some more time. What do you think?