Apple To Unveil New Education Product At Lane Tech Event

CHICAGO (CBS) -- In a rare move, Apple has planned a major product announcement at a high school in the North Center neighborhood, rather than the tech giant's California headquarters.

Mayor Rahm Emanuel and Gov. Bruce Rauner were scheduled to take part in a product demonstration alongside Apple CEO Tim Cook.

Preparation for the event began Monday, with what appears to be a stage and a makeshift fence.

Apple has not announced what the product will be, but CNET has speculated they will launch a new cheaper version of the iPad, as well as new classroom software.

"Join us to hear new creative ideas for teachers and students," an Apple invitation to the event stated.

Lane Tech administrators sent a note to students two weeks ago, telling them Apple chose the school because of how they incorporate technology in their classrooms and curriculum.

Apple is trying to regain dominance in the education market. Rival tech firms Google and Microsoft have done so affordably in the past, with affordable laptops and tablets for students and teachers.

Last year, the market generated more than $17 billion.

In December, Apple also announced plans to work with the city of Chicago on a coding program for up to 500,000 students.

The last time Apple held an event focused on education was in 2012 in New York City, where they launched digital textbooks.