According to a new report from Asian rumor-factory Digitimes, Apple is set to receive a shipment of up to seven million new iPad 3 display panels by the end of first quarter 2012.

The panels are apparently high-definition (2048 x 1536) 9.7-inch QXGA displays, manufactured by Sharp and LG. While multiple rumors throughout late last year pointed towards Sharp as a potential iPad 3 display supplier, a piece published in a Korean newspaper last week asserted that Apple had dumped Sharp from the contract due to failure to meet requirements with their new IGZO (indium gallium zinc oxide) displays.

In addition to a HD screen, a recent report from Bloomberg indicated that the iPad 3 is likely to feature a quad-core processor and 4G LTE technology. This latest news, if accurate, indicates a rapid ramp-up in production that correlates well with the expected March launch date of the iPad 3.