Retailer Chops Price of iPad 2 with iPad 3 Imminent

A few weeks before the second generation iPad loses its leading position on the tablet market to the upcoming iPad 3, and with a number of quad-core tablets expected at the Mobile World Congress, some retailers are taking drastic measures to push the iPad 2 to customers.

According to AppleInsider, the most impressive price cut comes from Meijer, who have decided to reduce the price for the 16GB Wi-Fi iPad 2 by $70 (£44) to $429, and advertise that the offer will stand until 25th Feb or "while supplies last".

The situation is generated by all the speculation flying around the tech websites pointing out the impressive new features for the iPad 3, which will make the current top model seem less desirable.

The third generation iPad is expected to feature a Retina like display with a resolution of 2048x1536 pixels, enhanced cameras similar to that introduced with iPhone 4S, a faster A6 quad core processor. Some also suggest we will hear Siri's voice coming from the latest iPad.

Conversely, there have also been reports of iPad 2 stock shortages, which is nothing out of the ordinary for Apple, who often scale down production prior to the release of a new model.