Apple announced yesterday that it will drop the price of the iPad 2 ahead of the iPad 4G LTE release on March 16.
As it stands, the entry-level version of the iPad 2, which has 16GB of storage and Wi-Fi capability, will drop to $399, while the Wi-Fi plus 3G model will retail for $529 for those buying through the Apple store.
Another option for those looking for a better price direct from Apple is to get a refurbished model of the iPad 2, which are being sold for $349 for the entry-level version, all the way up to $679 for the 64GB Wi-Fi plus 3G model. Apple is also selling refurbished models of the first generation iPad starting at $299.
In the meantime, third-party retailers and large electronics stores have been offering lowered prices on the older tablet, with some stores like Radio Shack offering a $50 mail-in rebate on the new iPad or iPad 2 when the purchase in made using a "Shack Card."
Other stores, like WalMart and Best Buy, have already matched Apple's dropped prices on the tablet, PC World reports.
As Business Standard points out, all third-party retailers that sell Apple products must sign agreements with the company on pricing standards, which means they can't drop prices unless they are specifically authorized to do so.
"Apple directs us on the price revisions, as discounts are something the company never offers," an Apple reseller in New Delhi told Business Standard. "And, since the retailer margins are also very tight, you will never see an Apple device being sold at 'discounted' prices."
In light of these strict pricing standards controlling what resellers can legally charge for products, buyers may be tempted to flock to eBay seeking deals on used tablets. But according to PC World, buyers should hold off for a few days, as prices are likely to fall as the new iPad's March 16 release date draws near.
BEFORE YOU GO
Check out the slideshow to see the 11 biggest things you need to know about the new iPad.