Production of Next-Gen Apple (AAPL) iPad Said to Commence

Shipments of Apple's (Nasdaq: AAPL) next-generation iPad are expected to start later in 2014.

Bloomberg reported Tuesday that mass production of the 9.7-inch iPad has already started and debut of the new device is expected either at the end of the current quarter or early into Q414. Production of a new 7.9-inch iPad mini is entering production and that device could debut before the end of 2014.

Sales of Apple iPads slipped to 13.3 million units for the company's fiscal Q314 reporting period.

Apple and IBM (NYSE: IBM) also recently signed an exclusive partnership, which had Apple CEO Tim Cook explaining that rationale behind the pact was to sell to businesses and act as a catalyst for future iPad growth.

Shares of Apple are up in early trading Tuesday.

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