Apple is set to release a BRAND NEW iPad next year in desperate attempt to curb slumping sales of its tablet

Apple will make significant changes next year to combat declining sales.

According to a report, the tech giant will revamp its iPad, making it faster and more beautiful than ever before.

The new iPad Air will have two sizes for the first time, while the Pro model will be equipped with OLED screens and the faster M3 processor, found in MacBook Pros.

The company has suffered several quarters of declines in iPad sales as persistent inflation and high borrowing costs force consumers to scale back non-essential purchases.

And consumers have grown tired of mediocre upgrades every year.

The new iPad Air will have two sizes for the first time, while the Pro model will come equipped with OLED screens and the faster M3 processor – found in MacBook Pros (stock photo)

Apple last month gave a sales forecast for the holiday quarter that was lower than Wall Street estimates due to weak demand for iPads and wearables.

Meanwhile, the Mac company is dealing with a broader slump in the PC market.

The Bloomberg News According to the report, the iPads are expected to launch in late March and that the company is also working on updated versions of the Apple Pencil and Magic Keyboard accessories for the Pro model of the device.

The addition of an OLED screen will make the iPads “sharper and brighter and reproduce colors more accurately,” the report said.

This is the same screen that was introduced with Apple's iPhone X in 2017.

And users can choose between an 11-inch or 13-inch tablet, the largest version yet.

The report also speculated that users could see a revamped Magic Keyboard that turns the iPad into a laptop – the upgrade could see a larger trackpad.