Apple's 4th-generation iPad gets a 128GB storage option, starting Rs. 49,900

As rumoured, Apple has introduced a 128GB variant of the 4th generation iPad with Retina Display. The tablet has been priced at Rs. 49,900 for the Wi-Fi only variant and Rs. 56,900 for the Wi-Fi + Cellular options. According to Apple, the new option will be available starting Tuesday, February 5, in black or white.

Apple unveiled the 4th-generation iPad alongside the iPad mini at a special event held in San Jose, California in October last year. Improvements compared to the predecessor included a beefed-up processor, improved LTE support and inclusion of the new Lightning connector that first shipped with the iPhone 5.

Apple's iPad has been available in 16GB, 32GB and 64GB variants since launch, so the 128GB variant marks the first departure from the norm.

"With more than 120 million iPads sold, it's clear that customers around the world love their iPads, and everyday they are finding more great reasons to work, learn and play on their iPads rather than their old PCs," said Philip Schiller, Apple's senior vice president of Worldwide Marketing. "With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps, enterprises, educators and artists have even more reasons to use iPad for all their business and personal needs."

Apple sold over 22.9 million iPads in Q1 2013, though it did not reveal the breakdown of sales between 3rd/ 4th-generation iPads and iPad minis. The launch comes at a difficult time for Apple, with the company's stock caught in a downward spiral for quite some time. It recently lost the crown of the most valuable company to ExonnMobil. While the launch itself is unlikely to arrest that slide, it will be interesting to see Apple's moves in the markets from here on.