Apple Inc. AAPL may not release any new iPad this year as the company could soon begin mass production of the Mini Refresh model.
What Happened: On Monday, Ming-Chi Kuo, an analyst at TF International Securities, shared the results of his recent survey on Twitter saying that Apple may not release any new iPad in the “next 9-12 months."
The company will likely begin the iPad Mini Refresh mass production in the first quarter of 2024.
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He predicted that this decision would significantly impact iPad shipments for 2023, which could witness a decline of 10-15% YoY. However, Kuo expects the Apple 2024 foldable iPad to boost shipments and "improve the product mix."
Kuo also stated that the foldable iPad would come with Carbon Fiber Kickstand supplied by Anjie Technology. He said Anjie will continue to benefit from the emerging trend of foldable devices "equipped with kickstands."
Why It's Important: In October last year, it was reported that Apple is likely to launch a foldable iPad rather than an iPhone model in 2024.
Ben Wood, the chief of research at CCS Insight at the time, said that a foldable iPhone would be "super risky" for the tech giant as it would be "incredibly expensive."
In December, Kuo said that Apple is working on a new version of the iPad Mini with a new processor and could begin mass production by the end of 2023 or the first half of 2024.
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