Apple Selling Out Of Discounted First Generation iPads

Apple has run out of the Wi-Fi only model of the first generation iPad in the clearance and refurbished sale sections on its online store.

According to a report on Apple Insider, the company's stock of 16 GB Wi-Fi only first generation iPads in Apple's clearance and refurbished sections has also sold out, after being offered at discounted prices.

Apple started a massively discounted clearance and refurbished iPad sale soon after the company rolled out the iPad 2 device, which continues to sell like hot cakes. The company is offering new iPad models for a $100 less while refurbished models are available for as much as $170 less.

As of now, Apple's online store is offering 3G models of the iPad, under the clearance sale, for $529, $629 and $729 for the 16GB, 32GB and 64GB models respectively, while the refurbished 32GB and 64GB Wi-Fi iPads are being offered for $429 and $529 respectively.

Apple's latest iPad 2 still comes with a 3-4 week waiting time for online orders while many retail stores are have run out the iPad 2. Apple expects to sell around 40 million iPad models, including first and second generation models combined, in 2011.

The shortages of iPad 2 is being cashed in on by some eBay users and other small stores, who are offering the newest iPad model for highly increased sums.