The Apple company. AAPL is preparing for a significant launch of new products iPadPro AND iPad Air models in May, ending a nearly 18-month drought.
What happened: Apple plans to introduce the new iPad Pro and iPad Air the week of May 6, according to Bloomberg Marco Gumann.
The launch will include new 11- and 13-inch OLED iPad Pro models, an enlarged 12.9-inch iPad Air, and updated accessories for Magic Keyboard and Apple Pencil.
This announcement marks one of Apple’s most significant iPad hardware releases, after a hiatus of nearly a year and a half without new iPad hardware.
The new iPad Pros will feature improved displays, switching from mini-LED to OLED panels, offering deeper contrast and brightness. The design is expected to be updated as well, with a thinner chassis and the front camera moved towards the horizontal edge. The M3 chip will power new professionals.
However, the prices of the new models are expected to increase. The current generation 11-inch iPad Pro starts at $799 and the 12.9-inch iPad Pro starts at $1099.
See also: Sam Altman and former Apple design maestro seek funding from Laurene Powell Jobs and Masayoshi Son for their AI device startup
The new 12.9-inch iPad Air will provide a more affordable option while offering a larger screen size. The processor configuration of the new iPad Air has yet to be confirmed.
As for new accessories, the new Pencil is expected to have a new squeeze gesture feature and the new Magic Keyboard will make the tablet even more like a laptop.
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Small improvements are expected to be made to the base iPad and iPad mini models throughout the year.
Because matter: The new iPad models are also speculated to feature matte-finish displays, an unprecedented feature for the iPad series.
The launch of these new iPad models comes as Apple is reportedly looking for its next big revenue driver, as the iPhone is no longer the revenue source it once was.
The company plans to launch a range of new models and enhancements in early 2024 to counter declining sales in the Mac and iPad segments.
Price Action: Apple shares closed 0.45% higher at $169.58 on Friday, according to Benzinga Pro.
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Disclaimer: This content was partially produced with help from Benzinga Neuro and was reviewed and published by Benzinga editors.
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