Consumer electronics giant %Apple () is reportedly planning to launch new 11-inch and 12.9-inch %iPadPro tablets by the end of October.
The new iPads will enable Apple to place more products on store shelves ahead of the upcoming holiday shopping season.
In September of this year, Apple launched its latest iPhone 14 smartphone, a new line of Apple Watches, and AirPod Pro headphones.
The fourth and final quarter of the year is often Apple’s biggest in terms of sales and revenue generation. Apple is also looking to bolster its iPad sales, which fell 14% during last year’s holiday sales period.
The new iPad Pro is reported to contain Apple’s proprietary %M2Microchip , which the company says should boost processing speeds by 20%.
This marks the first upgrade to the iPad Pro in a year and a half, according to industry reports. However, other than the new processor, the latest iPads are not expected to contain many new features and will reportedly look the same as previous models.
Apple is reported to be developing a new lower priced entry-level tablet that will have a USB-C port, though it is not clear when that tablet will be introduced by the company.
Apple’s stock is down 22% this year and trading at $142.41 U.S. per share.