The revamp -- the first major makeover of the line of tablets in half a decade -- is intended to reinvigorate consumer interest and clear up confusion in the lineup, Bloomberg's Mark Gurman reported Sunday. Gurman notes that the iPad generates the least amount of revenue among Apple's major products.

The lineup will, for the first time, sport OLED screens instead of the Mini-LED display tech that's also been used in Apple's MacBook Pros, Gurman writes. The models are expected to come in 11- and 13-inch displays, slightly larger than the current 12.9 inches, he wrote.

The new lineup is also expected to be powered by Apple's rumored M3 chip, Gurman writes. Apple launched its M chips to power the company's line of MacBooks, Macs and iPads in 2020 after years of using Intel processors.

The tablets will also sport an updated Magic Keyboard that will help the iPad perform more like a laptop, along with the addition of a larger trackpad -- addressing a complaint about the tablet, Gurman writes. The Magic Keyboard, which was announced in 2020, doubles as both a keyboard and an adjustable stand.

While Apple is expected to hold a launch event in the coming weeks that will likely focus on a new a iPhone and Watch, Gurman doesn't expect the new iPads to be unveiled until the spring or early summer 2024.