Bloomberg reports Apple (AAPL) is preparing to release a 12.9-inch version of its iconic tablet sometime in FY2015.
According to the publication’s sources, Cupertino is planning to start mass producing its largest-ever tablet in the first quarter next year and may start selling it soon afterward. Obviously, Apple is targeting enterprise users with the larger tablet, as it would directly compete with Microsoft (MSFT)’s 12-inch screen Surface Pro 3.
The report comes as Apple struggles with declining sales of its 10-inch and 7.9-inch iPad variants, which are deteriorating as larger screen smartphones made by South Korean electronics giant Samsung and other rivals negatively impact iPad sales.
Bloomberg says that Apple CEO Tim Cook has decided to shake up the iPad line because sales of the tablets, which are Apple’s second-biggest product by revenue after the iPhone, have actually declined on a year-over-year basis.
Apple has been working with its suppliers for at least a year to develop a new range of larger touch-screen devices, Bloomberg cited the sources as saying.
Shares of the $606.34 billion market cap company closed at $100.89 on Tuesday.