Apple is planning to launch another iPad mini
This model is expected to include an updated processor.

Ming-Chi Kuo, a highly respected analyst known for his insights on Apple-related issues, has predicted that the company will release a new iPad mini with an updated processor between the end of 2023 and the first half of 2024.
The last model of the iPad mini, which featured an A15 Bionic processor, was released at the end of 2021. It is expected that Apple will incorporate one of its newer processors, possibly the A16 Bionic found in the iPhone 14 Pro, into the new iPad mini.
Contrary to previous predictions from some media outlets, it is unlikely that Apple will replace the iPad mini with a foldable iPad in 2025. This is because a foldable iPad is likely to be significantly more expensive than an iPad mini, making such a replacement unrealistic. This new processor is expected to be the main selling point for the updated iPad mini.
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I think it's unlikely Apple will replace the iPad mini with a foldable iPad in 2025, which may be contrary to what some media previously predicted. It's because a foldable iPad will have a markedly higher price than an iPad mini, so such a replacement is not reasonable.— 郭明錤 (Ming-Chi Kuo) (@mingchikuo) December 27, 2022