Apple expected to launch revamped iPad model at May 7th event

Apple will hold an event on May 7th, the company said on Tuesday, amid reports that it would roll out the long-anticipated revamped versions of iPad Pro and iPad Air next month.

The Cupertino, California-based company did not disclose more details about the event that would start at 7 a.m. PT (2 p.m. GMT).

Bloomberg News reported in March that Apple's overseas suppliers had ramped up production of the new iPads and a launch was planned for early May.

The new models would represent Apple's first overhaul to that lineup since 2018.

The potential launch comes at a time as iPad sales have declined. The sales dropped 25% to $7.02 billion in the first quarter, while those of iPhone, its most popular product, have also been slowing.

The tablet market is under duress as economic uncertainty looms and consumers cut back on non-essential spending, but Apple expects to combat the slump in demand with new products.

Apple's iPad sales contributed just 5.9% to the company's total net sales of $119.58 billion in the first quarter ended December 30th.

Apple is also scheduled to hold its Worldwide Developers Conference from June 10th to June 14th.

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