Apple is planning to release several new models, including a faster MacBook Air and two updated iPads, early next year to help combat a decline in sales of the devices, Bloomberg News reported on Wednesday (paywall), citing people familiar with the matter.

The new iPad Air will have two sizes for the first time, while the Pro model of the device will be fitted with OLED screens, the report said. It added the MacBook Air will come with the speedier M3 processor that is designed in-house.

The company has faced several quarters of sales decline for Macs and iPads, which together account for nearly 15% of its revenue, as sticky inflation and high borrowing costs force consumers to dial back non-essential purchases.

Apple gave a holiday-quarter sales forecast last month that was below Wall Street estimates due to weakness in demand for iPads and wearables. Meanwhile, its Mac business has been grappling with a wider slump in the PC market.

The Bloomberg News report said the iPads are expected to be launched around the end of March, and that the company is also working on revamped versions of the Apple Pencil and Magic Keyboard accessories for the Pro model of the device. — Aditya Soni, (c) 2023 Bloomberg LP