Apple has been literally shrinking its product line lately. Recently, the company released a new iPad mini with a high-resolution retina display and power that rivals that of larger tablets, all with a 7.9 inch screen. At the same time, the company also shrank its standard iPad (renamed the iPad Air) into a form factor more reminiscent of the mini without sacrificing the device's 9.7 inch diameter. The new iPad only weighs a pound, yet completely outclasses its predecessors in terms of power.

Though this downsizing may seem like a trend, new reports suggest that Apple actually has something else in mind. The company may, in fact, be freeing up room for a third iPad model—one that is even larger than those presently available.

According to a recent article on Digital Spy, Apple may be launching a 12.9 inch "iPad Pro" in 2014. Citing an article in The Korea Times, the news source claimed that Apple's supply chain is already prepared to produce the new devices.

The Times quoted an insider who claimed that the new device would "have improved picture quality," similar to that of 4K displays. It is also rumored to feature 4G connectivity and the TouchID fingerprint sensor, which Apple currently features on the iPhone 5S. 

Though many tablet makers have been working on smaller consumer devices that can be held on one hand, a larger iPad may appeal to those who use tablets in a professional setting and would prefer something with a larger screen.

Consumers who might be interested should pay close attention to this potential iPad deployment.