April 23 (Reuters) - Apple ( AAPL ) will hold an event

on May 7, the company said on Tuesday, amid reports that it

would roll out the long-anticipated revamped versions of iPad

Pro and iPad Air next month.

The Cupertino, California-based company did not disclose

details about the event that would start at 7 a.m. PT (2 p.m.

GMT).

Bloomberg News reported in March that Apple's ( AAPL ) overseas

suppliers had ramped up production of the new iPads and a launch

was planned for early May.

The new models would represent Apple's ( AAPL ) first overhaul to

that lineup since 2018. Apple ( AAPL ) had introduced iPad in January

2010.

The potential launch comes at a time of a decline in iPad

sales. The sales dropped 25% to $7.02 billion in the first

quarter, while those of iPhone, its most popular product, have

also been slowing.

It is a safe bet that there will be new iPads launched

that day, given the picture of an Apple ( AAPL ) pencil and art on the

invite, said Ben Bajarin, CEO of consulting firm Creative

Strategies.

The tablet market is under duress as economic uncertainty

looms and consumers cut back on non-essential spending, but

Apple ( AAPL ) expects to combat the slump in demand with new products.

The company already sells five iPad models including the

Pro, Air, Mini and the ninth and 10th generations of its regular

iPad, according to the company's website.

Apple's ( AAPL ) iPad sales contributed just 5.9% to the company's

total net sales of $119.58 billion in the first quarter ended

Dec. 30.

Apple ( AAPL ) is also scheduled to hold its Worldwide Developers

Conference from June 10 to June 14.