While an upgrade for the iPod Touch is long overdue, it is still not clear if Apple is willing to launch a 6th generation of the popular device. In fact, there is speculation that the Cupertino-headquartered tech titan may replace the iPad line with the upcoming iWatch series.

As far as the development of the iPhone and iPad line ups are concerned, Apple has been very productive in recent years. However, the company's iPod Touch line has not been receiving much patronage from the consumers. In fact, Apple released the 5th generation iPod Touch 5 over two years ago. All said and done, it must be admitted that as far as the specs and hardware are concerned the iPod Touch 5 is now outdated.

While there is no doubt that the iPod Touch 5 is still a fast performer in its own right, its sales have declined by nearly 36 percent as Apple has yet to release a 6th generation within the last two years. However, the company experienced a small 6 percent rise in sales during the last quarter - thanks to the release of the 16GB model that came with a camera. Alas, this was by no means the 6th generation iPod Touch.

While it is difficult to precisely pinpoint the reasons for reduced revenue for most other Apple product lines, in the case of the iPod Touch line it is easy to deduce this. The drastic drop in sales of the iPod Tough is mainly due to the aging product line. In fact, in the absence of a next-gen iPod Touch, most Apple consumers have opted for either the iPhone or the iPads for their portable music requirements.

As of now, there are no reports regarding Apple planning to release a 6th generation iPod Touch. Nevertheless, the company is said to be planning an iOS 8 update for the 5th generation iPod Touch.