Business, Economics and Jobs

Apple doubles iPad's storage with a new 128GB version


Apple's new iPad is displayed at a Korean distributor of iPhones and iPads, in Seoul on April 20, 2012.


Jung Yeon-Je

A new beefed-up version of the Apple's fourth-generation iPad will be available in stores starting next week.

For those looking for more storage for their files, photos and videos, Apple unveiled a new version of its iPad tablet with 128GB storage capacity on Tuesday, reports CNET.

The company hopes the new high-capacity tablet will be popular with business users who are running out of space with the iPad's current storage capabilities. 

Apple Senior Vice President of Marketing Phil Schiller told ABC News that the new iPad provides more storage for people using their iPads rather than their PCs. 

“Everyday they are finding more great reasons to work, learn and play on their iPads rather than their old PCs,” Schiller said.

“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.”

The iPad previously came only in 16GB,  32GB and 64GB options. 

The new iPad will be available in stores on Feb. 5 and retail for $799. A cellular version comes with a price tag of $929.  

Apple sold a record 22.9 million iPads last quarter but saw slower sales for Macs, reports PC Mag.

CEO Tim Cook told reporters last week that the iPad's "cannibalization" of the laptop market might account for some of the dip in Macbook sales. 

“I think cannibalization is a huge opportunity for us,” Cook said on the call. “Our base philosophy is to never fear cannibalization. If we do, somebody else will just cannibalize it… We know iPad has cannibalized some Macs, and that doesn’t worry us.”