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Bloomberg is reporting this afternoon that Apple is preparing a larger 12.9-inch iPad for early next year. Citing people with “knowledge of the matter,” the outlet says that the company’s suppliers are gearing up now, with production of the tablet scheduled to begin by the first quarter of next year.

The report revives a theory that has been bouncing around the rumor mill for more than a year now. Apple was originally expected to launch the 13-inch “iPad Pro” this fall, but is believed to have pushed back the project due to resources being used on the so-called ‘iWatch,’ and the new iPhone 6.

Matching up with previous speculation, Bloomberg says that the new iPad will have a screen measuring 12.9-inches diagonally. The firm has apparently been working with suppliers for more than a year to develop a new range of larger touch-screen devices, but only recently settled on the current size.

Additionally, the site’s sources reaffirm the expectation that Apple is holding a media event next month to introduce two larger iPhones: one with a 4.7-inch display, and one with a 5.5-inch. It also says Apple suppliers recently started manufacturing a new 9.7-inch iPad, expected to debut this fall.

It’s not surprising that Tim Cook and company are looking to shakeup the iPad lineup. Last quarter Apple reported 13.2 million unit sales for the tablet, versus 14.4 million expected, and the consensus is that this will be the trend moving forward as consumers continue to migrate to larger smartphones.

[Bloomberg]