Apple shares rise on new iPad news
Apple's new iPad to have twice the storage capacity of the existing model in an effort to entice companies that share large amounts of data.
- New iPad will have 128GB of storage
- On sale February 5 from $869
- Rumoured iPad 5 photos surface
Apple has unveiled a new iPad with twice the storage capacity as the existing model in an effort to score business with companies that share large amounts of data.
Apple's new iPad will go on sale on Tuesday February 5 for $869 for the wi-fi only model and $1009 for the wi-fi and mobile data version.
The tablet will have a capacity of 128 gigabytes (GB) compared with the current model, which comes with 16GB, 32GB or 64GB. Nothing else has changed, so this remains a fourth-generation iPad rather than an entire new model.
"With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps, enterprises, educators and artists have even more reasons to use iPad for all their business and personal needs," said Apple senior vice president of marketing Philip Schiller.
Apple, which has sold 120 million iPads worldwide, quoted several web application developers who said the additional memory capacity would allow businesses to better serve clients in conceptual design, music recordings and sports strategy.
Apple's move to expand its iPad customer base comes as the company faces tough questions from Wall Street over its growth prospects.
Company shares lost about 12 per cent of their value last week after the company reported earnings that showed lower profit margins and smaller anticipated growth than expected. Apple shares were 1.1 per cent higher in early trading.