Apple To Launch New High-End iPad Line With Self-Built Processor In April: Report

Apple Inc. AAPL aims to launch a new line of iPad Pro in April and is also planning updates to its existing iPad line, Bloomberg reported Wednesday, citing people with knowledge of the matter.

What Happened: The new iPad Pro models will come with a better processor, improved cameras and Thunderbolt port, according to the report. They will resemble the current iPad Pros and come in the same 11-inch and 12.9-inch screen sizes.

The updated processor, designed by Apple itself, is said to be on par with the faster M1 chip in the latest MacBook Air, MacBook Pro and Mac mini. The Cupertino-based company is also reportedly looking to include a Mini-LED screen with at least the 12.9-inch screen model.  The iPad Pro was last updated by Apple in March 2020.

Apple is also preparing to launch a new iPad mini with a bigger screen than the 7.9-inch display currently used. The new iPad mini could launch as soon as this year.

Later this year, Apple plans to update its cheapest iPad aimed at students with a thinner and lighter design, as per the report.

See Also: Apple's iPhone 12, iPhone 12 Pro Trail Android Rivals In 5G Speeds: Report

Why It Matters: There have been conflicting reports on the upcoming Apple iPad event. It was reported earlier this month that Apple could launch the long-rumored AirTags and the new iPad Pro models at an event to be held on March 23. Earlier rumors had suggested the event could be held on March 16.

Apple is refreshing the iPad line amid strong demand for the tablets as people continue to work and study from home due to the pandemic. The tech giant reported iPad sales of $8.44 billion in its most recent holiday quarter, up 41% from the prior-year period.

Price Action: Apple shares closed 0.7% lower on Wednesday at $124.76.

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