Apple cuts iPad 2 prices

Gadget lovers in India can now own an iPad 2 for Rs 24,500, with Apple Inc slashing its price worldwide on Thursday following the launch of a new third-generation, 4G-ready tablet.

The new iPad was introduced by Apple Chief Executive Tim Cook in San Francisco on Thursday and will hit store shelves next week in several countries. The company said it will continue to sell the iPad 2 but dropped its price by $100 in the US

In India, the 16 GB base model of the iPad 2 that works only on Wi-Fi is now priced at Rs 24,500, down from Rs 29,500 earlier.

"… iPad 2 is now offered at a more affordable price of Rs 24,500, inc VAT for the 16 GB Wi-Fi model (Rs 23,333 exVAT) and just Rs 32,900, inc VAT for the 16 GB Wi-Fi + 3G model (Rs 31,333 exVAT)," Apple India said in a press release on Thursday.

A company spokesman said the price cut will be across the board for all iPad 2 models in India.

There was no information on when the new 4G-ready iPad will be available in India.