CiccareseDesign was commissioned by MacRumors to create renderings of such a device. The display size was increased from 9.7-inches to 12.9-inches while maintaining the 4:3 aspect ratio.
If Apple were, however, to maintain the same 132/264 ppi of the current 9.7-inch iPad, this 12.9-inch iPad could conveniently carry an increased resolution of approximately 1366 x 1024 (2712 x 2048 Retina), matching the "HD" display standard in width and exceeding it in height.
Check out the renderings below that show the imagined device next to various other Apple devices.
Do you think Apple needs a larger iPad in its lineup? Let us know in the comments!