Apple suppliers are reportedly mass producing a full-sized 9.7-inch iPad and a 7.9-inch model with an expected launch later this year, Bloomberg reports.

Apple, the renowned smartphone making company, is reportedly nearing the launch of its two new iPad versions this year. Citing people familiar with Apple's plans, Bloomberg reported the mass production of a new full-sized 9.7-inch iPad was already underway and expected to be launched this fall.

The report also said Apple's next-gen 7.9-inch iPad mini production will debut later this year.

With the launch of two new iPads, Apple is looking to rejuvenate the sluggish sales of its tablets. The Cupertino tech giant witnessed two weak quarters, selling just 13.3 million iPads during the second quarter this year. It sold 14.6 million units during the same quarter last year and 26 million iPads over the holidays, PCMag reported via IDC last month.

Apple's two new iPads will enjoy favorable sales during the lucrative holiday shopping season. The range of Apple products by the end of this year will also include new iPhones with bigger screens, first of Apple's attempt at large screen smartphones, as well as a new wearable iWatch. These new rumored gadgets coincide with CEO Tim Cook's assertion last month that Apple has new things stored in its pipeline and "we can't wait to show you."

Apple is expected to unveil  the 4.7-inch model at a special media event, September 9. The launch of the larger 5.5-inch model is delayed due to production issues. It is rumored that the tech giant will showcase its first wearable gadget, referred to as iWatch, too. Apple's decision to continue its efforts with iPads is backed up by its recent partnership with IBM, which will help boost the ailing tablet sales.