Technology giant Apple is, as per the rumors making rounds on the Internet, apparently working on a new version of its iPad tablet device. The new iPad will likely be launched by the company in fall this year.

The rumors about the launch of a new iPad have been making rounds of late, despite the fact that the Apple tablet - which marks the company's second-biggest business after the iPhone - has been witnessing stagnant growth in recent months.

In the last two quarters, there has been a significant slowdown in the sales of tablets, and the trend is likely to continue through the ongoing quarter as well. Nonetheless, Apple still continues to have a dominating 28 percent market share in the tablet arena; notably ahead of its closest rival Samsung's 18 percent share of the tablet market.

Although the expected launch of the next-generation Apple iPhone will apparently hog the spotlight in the coming weeks, the company seemingly has efforts underway to roll out a substantially enhanced version of the iPad as well.

Towards that end, Apple CEO Tim Cook has asserted that Apple developers have a lot to put into the iPad in coming days; and the new iPad will evidently underscore a "significant innovation."