Apple is thought to be working on a new music initiative, code-named Cocktail, that will see the big four record labels – EMI, Sony, Warner Music and Universal – offer interactive booklets, sleeve notes and exclusive cover art with songs and albums purchased through its iTunes Music Store.

“It’s all about re-creating the heyday of the album when you would sit around with your friends looking at the artwork, while you listened to the music,” an executive familiar with the plans told the Financial Times.

Industry experts hope the launch of a new touch-screen tablet computer could change the PC market in the same way that the iPod revolutionised music, and prove as much of a technology step-change as Apple’s iPhone.

However, some commentators have said it’s “unlikely” that such a device will be available in the next few months. “Reports last week had Apple working hard to get a tablet device [ready] in time for Q1 2010,” said MG Siegler, an expert with technology website Techcrunch. “So how likely is it that we’re going to see such a device in just a couple of months? Probably not too likely.”