Apple Inc. (NASDAQ:AAPL) has planned for an event on October 16 and invited tech media for the same. It is not long back that Apple launched its iPhone 6 and 6 plus and Apple Pay. Many expect that the new iPads will be launched during the event. Bloomberg’s Tim Higgins talked on Bloomberg TV about Apple’s October 16 event and details of the new iPad tablets to be launched ahead of the holiday season.
Apple Inc. (NASDAQ:AAPL)’s iPad sales were decreasing for the last two quarters and with the injection of larger screen iPhone in the phablet sector, many expect that it might cannibalize the iPad mini sales. Yet, Apple might unveil their brand new iPad during the upcoming event.
“[…] Getting into the holiday season, they need to improve the revenue there. It’s (iPad tablets) the second largest revenue producer for Apple and it has been decreasing the last two quarters. So they need a little more magic in that line up for them,” Higgins said about Apple iPad tablets.
iPhone has remained the highest revenue producing business for Apple Inc. (NASDAQ:AAPL) for the last few years. iPad has slowly leapfrogged PC and iPod business and attained the second spot. Now it has started dropping the revenues for the company and they need to take some measures to restore the dropping iPad sales.
Meanwhile larger screen iPhone 6 and 6 plus launch in the phablet sector might impact the iPad mini sales as well. Higgins thinks that there will an interesting cross pollination between iPad mini and iPhone 6/6 plus. Apple Inc. (NASDAQ:AAPL) is reportedly coming out with 12” iPad, but Higgins mentioned that it might hit the market in 2015.
Higgins said that we might get to know about the current big iPad, iPad mini and some update to the Mac during the event. He added that the new iPad’s will have various color options as in the iPhone 6 and 6 plus.
There were some issues reported with the iPhone 6 and 6 plus, which Apple Inc. (NASDAQ:AAPL) is currently working to solve. Higgins said that it was first attempt of the company in the large screen phone sector, but he mentioned that there might not be any such issues with the new iPad, since it is within the Apple’s territory. He said that we might expect such issues in the large screen iPad that might be launched in 2015.
As of 30 June 2014, Carl Icahn‘s Icahn Capital Lp hold around 52.8 million Apple Inc. (NASDAQ:AAPL) shares.