uploads/2018/09/4.jpg

Could Apple Be Discontinuing Some iPad Models?

By

Updated

No plan for a new iPad mini

According to Bloomberg, Apple (AAPL) is not planning to unveil a new iPad mini this year, and the company could once again exclude the model from its annual hardware refresh. The last time Apple upgraded the iPad mini was in 2015.

There have been speculations about Apple wanting to discontinue the mini tablet model because of disappointing sales in the product line. Apple has already stopped producing some iPad mini varieties. However, the company is expected to launch an updated iPad Pro at its September 12 event, as well as new iPhones. Apple may launch two iPad Pro versions this year with features such as face recognition.

Article continues below advertisement

iPad revenue fell in fiscal Q3 2018

Apple sold 11.6 million iPads in the June quarter (its fiscal Q3 2018), with its iPad revenue falling 5.0% year-over-year to $4.7 billion. Dropping the apparently slow-moving iPad mini could help Apple save some money to put toward creating more popular products or rewarding shareholders.

Apple to repurchase $100 billion in stock

In May, Apple added $100 billion to its stock repurchase program. Qualcomm (QCOM), the chipmaker Apple is facing in court over patent licensing terms, plans to repurchase up to $30 billion of its own stock after dropping its plan to acquire fellow chipmaker NXP Semiconductors (NXPI).

Alphabet (GOOGL) and Facebook (FB) have also lined up fat repurchase programs for their shareholders. Alphabet is on track to buy back $8.6 billion in stock, while Facebook boosted its stock repurchase program by $9.0 billion in April.

Advertisement

More From Market Realist