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Apple unveils iPad model with 128 gigabytes and retina display

By Lisa Rapaport

Bloomberg News

LAST UPDATED: 7:08 a.m. HST, Jan 29, 2013

Apple Inc. introduced a fourth- generation version of the iPad with a so-called retina display and 128 gigabytes of memory, twice the storage capacity of models already on the market.

The new iPad will be available starting Feb. 5 at a starting price of $799 for a Wi-Fi version and $929 for a device that also offers a cellular connection, Cupertino, California- based Apple said today in a statement.

Added memory will enable consumers to store more photos, books, movies, television shows, music and applications on the iPad, Apple said. Earlier this month, the company posted the slowest profit growth since 2003 and the weakest sales increase in 14 quarters, fueling concern about Chief Executive Officer Tim Cook’s ability to keep producing hit products more than a year after the death of co-founder Steve Jobs.

“With more than 120 million iPads sold, it’s clear that customers around the world love their iPads, and every day 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 marketing, in the statement.

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