Apple's First OLED-Screen Tablet, The iPad Pro Targets 9M Shipments This Year: Report

Earlier this month, Apple Inc. AAPL launched its highly-anticipated iPad Air 6 and iPad Pro at the “Let Loose” event. The tech giant is now expecting a significant number of orders for its OLED iPad Pro.

What Happened: Apple’s first OLED-screen tablet, the iPad Pro, reportedly has a shipment target exceeding 9 million units. This is particularly significant considering the recent decline in the overall IT device market, reported DigiTimes.

With the new iPad Pro 11-inch and 13-inch, Apple has switched from mini-LED to OLED panels, providing enhanced contrast and brightness. Moreover, the new iPad Pro runs on the M4 chip, specifically designed for AI from scratch.

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Research firm Omida predicts that the OLED shipment volume for tablets could reach 12.1 million units, with approximately 8.12 million units being hybrid OLEDs, a technology currently exclusive to the iPad Pro.

While some market research firms estimate that the 2024 shipment volume of the OLED iPad Pro will range from 4.5 to 5 million units, South Korean industry sources suggest that Apple, LG Display (LGD), and Samsung Display (SDC) are maintaining their initial shipment targets for both finished iPad Pro products and panels.

LGD is reportedly aiming to ship 5 million OLED units, while SDC’s target exceeds 4 million units, the report noted.

Why It Matters: This supports an earlier report from March, which indicated that Apple’s suppliers were preparing 8.5 million OLED panels for the iPad Pro. In January, the number was projected at 10 million OLED panels for 2028, but the order was reportedly reduced by two million, according to AppleInsider.

The anticipated surge in iPad Pro shipments comes amid a generally positive outlook for Apple’s tablet business. Previously, Deepwater Asset Management’s managing partner, Gene Munster also predicted a boost in iPad sales for 2024, although he also forecasted a decline in 2025.

According to IDC, global tablet shipments reached their lowest point last year since 2011. This decline was largely attributed to the economic slowdown, project delays, spending restrictions, and consumers prioritizing other needs over electronic devices.

However, analysts now anticipate some potential for recovery in the tablet market, albeit with certain challenges.

Photo courtesy: Apple

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