In another sign that Apple Inc. is about to introduce a new line of tablet devices, Best Buy has cut the price on existing iPads by $50. That brings the price on the Wi-Fi-only iPad 2 models down to $449.99 for the 16-gigabyte version, $549.99 for the 32GB version and $649.99 for the 64GB one. The price for iPad 2s with 3G wireless connectivity has been cut to $579.99 (16GB), $679.99 (32GB) and $779.99 (64GB).
Retailers often cut the price on older models of electronics to clear inventory for new models so this move by Best Buy is seen as affirmation that Apple (NASDAQ:AAPL) will indeed have a new iPad soon.
Reports have pegged early March as when the Cupertino company will pull the wraps off the third generation of its top-selling tablet. Some say it will be next week on March 7.
There have also been reports that Apple plans to do some price-cutting of its own, spurred by competition from lower-priced tablets including Amazon, Inc's $199 Kindle Fire and Barnes & Noble's Nook Tablet, whose price was recently slashed by $50 to $199.
Other reports indicated that Apple may continue to sell the iPad 2 at a reduced price, with some saying that will begin at $399 for the entry-level version.
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