(Bloomberg) -- Apple Inc. announced plans for a special event on May 7, when it’s expected to unveil new iPads and accessories after a long lull. 

The invitation for the presentation, dubbed “Let Loose,” depicts what appears to be an Apple Pencil. The event is scheduled for 10 a.m. New York time. 

Bloomberg News reported last month that Apple suppliers were ramping up production of new iPads, with a launch planned for early May. The release will feature revamped versions of the iPad Pro and Air, according to people familiar with the matter. The Pro models will get sharper new OLED displays — short for organic light-emitting diode — and the updated iPad Air will feature a 12.9-inch screen option for the first time, they said.

The move ends a record-setting drought for new versions of the iPad, which was first introduced by Apple co-founder Steve Jobs in 2010. It’s been about 18 months since the last updates, and sales of the tablet have slowed. Apple is betting that the new models, with faster chips and revamped accessories, can help reinvigorate the category.

The iPad Pro models will run the new M3 chip and work with redesigned versions of the Magic Keyboard and Apple Pencil, Bloomberg has reported. The update represents the first overhaul to that lineup since 2018.

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