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In Apple’s fiscal third quarter 2014 earnings report, which it released back in July, the company revealed that sales of its iPad had declined yet again. It wasn’t just a small decline, either: the company noted that iPad sales overall were down a stunning 16 percent year-over-year. But why?

Pundits across the industry have argued a few viewpoints. Perhaps lower cost Android tablets are more attractive to consumers now or, maybe it’s just that we don’t upgrade our tablets as frequently as other devices, like phones; either way, though, sales are down. Tim Cook isn’t too worried about the slump, however, and shrugged it off in an interview with Re/Code.

“We couldn’t be happier with how we’ve done with the first four years of the iPad, I’d call what’s going on recently a speed bump, and I’ve seen that in every category,” Apple CEO Tim Cook explained. It may be a speed bump, but Apple also needs to convince consumers why they should upgrade to a new iPad. The company has been quiet on that front so far this year, though we are expecting a new iPad Air and a new iPad mini with Retina display in the coming months — at least before the holiday season.

An old rumor also resurfaced yesterday when Bloomberg reported that Apple is aiming to launch the fabled 12.9-inch iPad sometime next year. Is the larger size all that Apple needs? Seems unlikely.

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Source Re/Code