Apple Said to Hold October Event to Introduce New IPad Tablets

IPad Sales Critical to Diminish Apple's Reliance on the iPhone

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Apple will introduce new iPads at an event on Oct. 16, a person familiar with the matter said, as the company seeks to kick-start slowing sales of its tablet computers.

Apple will unveil a new version of its 9.7-inch iPad and the smaller iPad mini, said the person, who asked not to be identified because an official announcement hasn't been made. Re/code reported earlier that the event also will include new iMac computers.

IPad sales are critical for Apple to diminish its reliance on the iPhone, which now makes up about half its revenue and the bulk of its profits. But the company is facing slowing sales for iPads as the tablet market matures, with lower-cost models gaining popularity and people upgrading less frequently than smartphones. IPad sales, which generated $32 billion in revenue for Apple in its last fiscal year, have declined for two consecutive quarters.

Trudy Muller, a spokeswoman for Apple, declined to comment.

Apple is adding a gold-color option for its full-size iPads, people familiar with the plans said this week. Apple hasn't introduced a new iPad since last October, and consumers have instead been shifting to iPhones with larger screens, such as Apple's new iPhone 6 Plus, introduced last month, which has a 5.5-inch screen.

Apple also is developing a bigger iPad, with a 12.9-inch screen to be introduced next year, people familiar with the plans have said.

~ Bloomberg News ~

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