Bloomberg is reporting that Apple will launch a 12.9-inch version of its industry-defining tablet and that it is expected to go on sale early next year.

Reports of an iPad ‘Pro' with a display size closer to that of a notebook are nothing new. Rumors about its upcoming release hit fever pitch back in November 2013 when The Korea Times claimed that a supply chain insider had verified the device's existence and that it would be launched in March 2014.

March came and went and with it so did any further reports. However, one analyst with an excellent track record at calling Apple's product line-up and launch dates, KGI Securities' Ming-Chi Kuo, said in February that although his supply chain sources confirmed the device exists, that it wouldn't be coming to market until 2015.

In the same research note, which was seen by Appleinsider, he also accurately predicted Apple's falling iPad sales volumes for the quarter.

Bloomberg's report, published on Tuesday, contains no references to potential specifications of the productivity-focused iPad other than that it will sport a 12.9-inch display.

Despite the explosive growth of tablets since the launch of the initial iPad back in 2010, sales of devices are beginning to slow. However, in an interview with Re/code also published on Tuesday, Apple's CEO Tim Cook described the drop in demand as a "speed bump," something he'd witnessed in every device category and that "We couldn't be happier with how we've done with the first four years of the iPad."

Apple isn't the only company that has seen tablet sales decline in recent months, a phenomenon many are putting down to competition from phablets that are taking sales away from smaller 7-inch tablets.

In order to combat this, Samsung has already launched a Pro 12.2-inch tablet aimed at business users while at the other end of the scale, Fuhu, a company that builds child-friendly tablets and software, this month announced the nabi Big Tab HD -- a huge 24-inch Android tablet that the whole family can use together and which will be going on sale in time for Christmas.

Whether or not a larger iPad-branded tablet does make an appearance in early 2015, what does look nearly certain is that a new generation of iPad Air and iPad Mini will be revealed in October this year.

Both are expected to get processor upgrades and a Touch ID fingerprint sensor and the larger 9.7-inch model is also going to feature a special screen coating to make the display easier to view and use in direct sunlight.