03/07/2012 03:24 pm ET | Updated May 07, 2012

iPad 2 Price: Apple Discounts Older Tablet By $100

SAN FRANCISCO (Reuters) - Apple Inc slashed the price on the iPad 2 to $399, minutes after announcing that its third-generation tablet hits store shelves next week.

CEO Tim Cook revealed details of the company's third-generation, 4G-ready tablet on Wednesday at a tightly scripted event in downtown San Francisco.

(Reporting By Poornima Gupta and Alexei Oreskovic)