Just like how Apple sells the previous generation iPhones for cheap after a new iPhone is released, the iPad 2 is going to live on even with the new iPad and its Retina display glory taking all the shine. Think of it as the lower end tablet that's better than any other tablet except for the new iPad.
It's going to only come in 16GB, with the Wi-Fi only model costing $400 and the 3G model costing $530. For $400 you don't get the Retina Display or the fancy iPhone 4S camera optics or the snazzy new A5X chip but you do get to save $100. Probably a good deal for somebody. [Gizmodo Liveblog, Image Credit: GDGT]
For our complete new iPad analysis, head right on over here.