Apple will reportedly unveil a new, lower-cost iPad aimed at students and teachers at its event next week

Hollis Johnson/Business Insider

• Apple will announce a lower-cost iPad at its event in Chicago next week, according to a new report from Bloomberg's Mark Gurman.
• The new iPad will reportedly be aimed at students and teachers in an attempt to win back some of the ground Apple has lost in the education market.
• Apple is also working on a new, lower-cost MacBook, but the device won't be ready in time for next week's event, according to Bloomberg.

Apple will reportedly release a new, low-cost iPad aimed at teachers and students at its event in Chicago next week.

Bloomberg's Mark Gurman reports that Apple has developed the education-focused device in an attempt to "win back" students and teachers. In recent years, both Microsoft and Google have found success in the education market thanks to their lower cost laptops and tablets.

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Currently, Apple's lowest-cost iPad is the 9.7-inch iPad, which starts at $330. There's no word yet on how much the new iPad would cost.

Apple most recently launched an updated iPad Pro at WWDC last year. The new model came in a different size - 10.5 inches - and included updated features and specs like a better display, smoother scrolling, a faster chip, the ability to multitask among apps, and the same camera that's in the iPhone 7.

Bloomberg reports that Apple is also working on a new MacBook laptop that would cost less than $1,000, which would likely replace the MacBook Air. However, that laptop will not be ready in time for next week's event, according to the report.

Apple's event in Chicago kicks off on March 27th at 10 a.m. ET.

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