The Cupertino, California based iPhone maker is now making its entry into the gadgets market with some more memory for iPad. Its been reported that the new iPad will come with 128 GB of storage memory nearly twice the memory of the existing devices.
The shares of Apple Inc (NASDAQ:AAPL) surged to 458.27 US dollars with 1.9 % growth in New York. In the current year the iPhone maker’s shares have tumbled nearly 14 % that reduced its performance in the Standard & Poor’s 500 IT Index. The new iPad with 128 GB will have enough memory to store whatever you want ranging from videos, music and books etc.
The sale of the new iPad will kick start on February 05. There are two versions of the device a Wi-Fi only version and another with a cellular connection function. According to Apple official statement the Wi-fi version will be sold for 799 US dollars while the latter will be available at 929 US dollars.
The smartphone innovator posted sluggish profit growth earlier this month since 2003. Moreover, the continued decline in sales in the 14 quarters is raising concerns over the ability of Tim Cook, Apple’s CEO, in the production and marketing of enchanting products and innovation that has been the heritage of Apple since its birth.
The competition in the tablet market is escalating since rivals like Microsoft Corporation and Amazon.com, Inc. (NASDAQ:AMZN) are grabbing more customers with their less costly products. In October the product line of Apple was bolstered with the launch of iPad mini along with a fourth generation iPad available from 499 US dollars to 829 US dollars. The tablet market is estimated to more than double to 162 billion US dollars by the end of 2017.
AMZN shares rose 8.70% to $283.03 in pre-market, AAPL shares fell -0.86% to $454.00 in pre-market on Wednesday.