After Apple announced the new iPad Wednesday, the company dropped the price of its predecessor, the iPad 2, to start at $399. Previously the device had been sold starting at $499.
Apple will offer the iPad 2 in two configurations, a 16GB Wi-Fi only model sells for $399. A 16GB Wi-Fi and 3G model (available on either AT&T or Verizon) sells for $529. The iPad 2 will continue to be available in either black or white.
The price of used iPad 2 devices is also likely to drop as gadget enthusiasts rush to sell their current devices in preparation for adopting the newly announced model.
The new iPad has 2048 x 1536-pixel retina display, a 5-megapixel camera and 1080p video recording. It is available March 16 starting at $499.