New iPad Pro: Pricey Upgrade, Modest Demand Forecast

On May 7, 2024, Apple unveiled its latest innovations: the new iPad Pro, iPad Air, and Apple Pencil Pro. The updated iPad Pro not only features the M4 chip, fabricated using TSMC’s second-generation 3nm process but also boasts an ultra-precise XDR Retina display. The new iPad Air is equipped with Apple’s M2 chip and continues to utilize the Liquid Retina display. Both models are available in 11-inch and 13-inch variants. However, TrendForce predicts modest market demand for the new iPad Pro, forecasting shipments of only 450 to 500 thousand units in 2024.

TrendForce notes that despite enhancements in screen and chip technology in the new iPad Pro, Apple has increased its price by $200 compared to its predecessor. The release of a larger 13-inch model of the new iPad Air may satisfy some consumer demands, but the market outlook for the new iPad Pro remains lukewarm. Additionally, according to Wccftech, Apple does not offer a trade-in option for accessories, compelling consumers to purchase the Apple Pencil Pro at full price to fully experience the new features of the iPad Pro, which could further dampen potential buyers’ interest.

Nevertheless, TrendForce acknowledges the new iPad Pro’s adoption of an OLED screen as a milestone, marking the official entry of OLED display panels into the tablet market. The firm also predicts that OLED tablets will reach a total shipment of approximately 9 million units in 2024, accounting for about 7% of the total tablet market share. They also believe that OLED panel manufacturers will enhance their production techniques to increase the market penetration of tablets, which could facilitate the expansion of OLED panels into other application areas.