Apple Reportedly Plans Exciting New iPad And MacBook Air Upgrades Early 2024 - A Strategy To Overcome Sales Decline?

Apple Inc. AAPL, aiming to counteract falling sales in its Mac and iPad segments, is reportedly planning to launch a range of new models and enhancements in the early part of next year.

The initiative involves refreshing the iPad Air, iPad Pro, and MacBook Air, according to a news report by Bloomberg, citing certain sources with knowledge of the matter.

Last quarter, Mac sales experienced a 34% decrease, falling to $7.61 billion, while iPad revenue saw a 10% drop to $6.44 billion.

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For the first time, the new iPad Air will be available in two different sizes, the report read. 

The iPad Pro is set to be equipped with OLED screens, an acronym for organic light-emitting diode. Additionally, the MacBook Air is expected to be upgraded with the faster M3 processor, it added,

The Mac and iPad collectively make up 15% of Apple's revenue, and these segments have been significantly affected by a downturn in consumer technology spending. The decline in iPad sales has been exacerbated by an absence of new models, as per Bloomberg.

Notably, 2023 marks the first year in the product's history that no new iPad versions have been released, Bloomberg reported.

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The iPad Air, Apple's mid-range tablet, currently features a 10.9-inch screen. In next year's release, Apple plans to introduce a model around 12.9 inches, equating to the size of the largest current iPad Pro, according to the Bloomberg report. 

The company is preparing four models — with codenames J507, J508, J537, and J538 — which will provide both Wi-Fi-only and cellular options for the two sizes.

Price Action: AAPL shares are trading lower by 0.28% to $192.91 on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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