Apple announces iPad with 128GB storage to take on rivals

Apple said on Tuesday that it will sell a version of its iPad tablet computer with 128GB of storage, which is twice the capacity of its existing models. Apple, which has sold more than 120 million iPads so far, said that the new iPad will go on sale on February 5, in black or white, for a suggested retail price of $799 for the iPad with just Wi-Fi model, and $929 for the version that also has a cellular wireless connection. 

In India too, the new 128GB versions of the fourth generation iPad will be available starting Tuesday, February 5, in black or white, for a suggested retail price of Rs 49,900 including VAT (Rs 47,523.81 ex-VAT) for the Wi-Fi iPad, and Rs 56,900 including VAT (Rs 54,190.48 ex-VAT) for the Wi-Fi + cellular model. All versions of the 128GB iPad will be sold through select Apple authorized resellers. 

Apple bolstered its product lineup in October with the iPad mini, priced from $329 to $659, and a fourth-generation iPad that costs $499 to $829, depending on the features. The latest iPad model comes as Apple works to fend off challengers from Google and Samsung Electronics in the market for tablets, which NPD DisplaySearch has estimated will more than double to $162 billion by 2017. 

"The tablet market is expanding, and Apple sees a market opportunity, not just at the low end but also in the high end with heavy media consumers," Tavis McCourt, an analyst at Raymond James & Associates, said in an interview. 

Earlier this month, Apple posted the slowest profit growth since 2003 and the weakest sales increase in 14 quarters, fueling concern about CEO Tim Cook's ability to keep producing hit products more than a year after the death of co-founder Steve Jobs.