Here are your Apple rumors and AAPL news items for today:

Timing: Apple (AAPL) is readying a new version of its 9.7-inch iPad for launch early this fall, DigiTimes notes. The company has been widely expected to debut its fifth-generation iPad by the end of this year. The new iPad will take design cues from the iPad Mini, including slimmer bezels and a lighter, thinner form. DigiTimes reports that the new iPad will feature one LED back-light tube instead of two. The fifth-generation iPad is expected to provide even longer battery life. While Apple is reportedly ramping up production for the new iPad, the company’s next generation iPad Mini may take longer to reach consumers. Apple has not yet decided whether the iPad Mini 2 should get a Retina display. The launch of a new iPad Mini could be postponed until the final calendar quarter of the year. DigiTimes has a mixed record of reliability regarding Apple rumors.

Pitch Change: The way Apple sells iPhones is about to get a makeover, 9to5Mac notes. CEO Tim Cook recently held a summit with Apple Retail Store personnel in San Francisco. During a three hour talk, Cook expressed frustration that about 80% of iPhone sales were made outside of Apple Stores. That deprives Apple of the opportunity to cross-sell other products. Apple is planning to increase iPhone sales at its Apple Stores through a series of new incentives, including offering gift cards and other discounts to consumers who purchase an iPhone at its brick and mortar locations. The new incentive programs are expected to be officially announced later this month. Apple is also readying a trade-in program to encourage owners of older iPhone models to upgrade their devices.

Moving Up: Apple continues to climb the Fortune Global 500 list, Fortune notes. Ranked by revenue, Apple jumped from 55th place last year to 19th place this year. By earnings, it is the second most profitable company, behind only oil giant Exxon Mobil (XOM). Rival Samsung placed 14th in this year’s revenue rankings.

For more about the company, check out our previous Apple Rumors stories.