Apple's board of directors has been increasing the pressure on CEO Tim Cook to release new products amid concerns about the company's pace of innovation, according to a new report.

FOX Business News correspondent Charlie Gasparino cites "reliable sources" in his report that claims Apple's board is "deeply concerned" that Apple hasn't released any innovative products recently.


While we've seen some product refreshes from Apple, such as the iPhone 5 and fourth-generation iPad, as well as some updates to the Mac lineup, the most recent new product is the iPad mini, which arrived in October 2012.

"That concern is basically manifesting into pressure on Tim Cook to innovate - do something fast," said Gasparino.

The report insists that the board isn't looking to fire Tim Cook, but that the directors are worried about what's in the pipeline, and whether the company will be able to keep the momentum going. "From what I understand [the board] is 100 per cent behind [Cook]," Gasparino said.

Despite the concerns, Cook did reveal earlier this year that Apple is working on "amazing" new products in "exciting" new categories, which has led to the belief that an iWatch could be in the pipeline.

Plus, it's widely expected that an iPad 5, iPhone 5S, iPad mini 2 and low-cost iPhone are on their way later this year.

In addition, Apple has already previewed its upcoming Mac Pro, which has been completely redesigned inside and out.