Apple always releases new device offerings every year, and this year will be no different. The new iPad Mini 5 is rumored to be out later this year. However, with the decreased interest in tablets, are we really getting another iPad Mini soon?

In fact, people are asking if it is actually being developed at all.

The reason behind this speculation is the decline in iPad sales reported by several news outlets, including Business Insider.

The Apple iPad is reportedly suffering from decreased sales in key markets, particularly with K-12 schools in the US. Schools are now abandoning the iPad and is buying much cheaper Chromebooks instead.

Financial reports has also seen a dip in iPad sales this year, selling only 10.3 million units for the first quarter of 2016, compared to 12.3 million same time in 2015, according to The Verge.

It also seems like the iPad's long life is actually hurting Apple's sales, with iPad owners not ready to turn in their iPads for a newer model, Mac World reported.

Despite the fall in sales, however, lots of tech news outlets are still very excited about the next iPad Mini.

The tech company giant has been consistently launching a new iPad mini model annually since 2012, according to The iPad Guide.The devices were launched usually around October or November, so the early September release of the iPad Mini 4 last year is a pleasant surprise.

It is possible that we will be seeing the new iPad Mini 5 sometime in September as well.

Mac World also speculated that the new model might be launched alongside either Apple Watch 2 or the most awaited iPhone 7.

Spec-wise, the new iPad Mini is also said to sport a new, smaller battery, according to Cult of Mac. Not much might be changed on the camera front, and the processor might possibly be bumped up from A8 to A9.

Mac World is also hoping that the new iPad Mini will do away with only 16GB and start at 32GB instead. Stay tuned for more updates on the Apple device.