Apple currently offers AirPods and the HomePod, the latter of which is a high end smart home speaker. Now, the company is reportedly gearing up to unveil a pair of over-the-ear headphones, which are said to rival products from Bose.

According to Bloomberg, citing anonymous sources, Apple's headphones will feature noise-canceling technology and seamless wireless pairing functionality, similar to what's available in AirPods. These headphones are expected later this year alongside a new version of AirPods, Bloomberg said.

Apparently, work on the high end headphones has been ongoing for the past year, but development has been stop and go. Engineers reportedly can't settle on a design, having gone through a number of iterations already. Bloomberg claims the headphones could undergo another redesign before they launch later this year, or be scrapped entirely.

Apple has a major presence in audio already, with products like AirPods, Apple Music, and HomePod. The company also acquired Beats back in 2014. As Bloomberg notes, Apple's wearable product sales, which include the Apple Watch, AirPods, and Beats headphones, rose 70 percent last year, which gives you an idea as to why Apple may release a pair of high end headphones.

Bloomberg's report doesn't reveal any other prospective details, such as battery life, size, weight, etc. We also don't know how much the headphones will cost. For context, many of the market's high end headphones fall into the range of $300 to $500.