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iPad 128GB Price Set for $799, Device Coming Out Feb. 5

Apple confirmed the release date for the upcoming 128GB iPad for Feb. 5.

The company will launch the fourth generation model with bulked up memory next Tuesday and it will cost $799 for the Wi-Fi model and $929 for the Wi-Fi cellular version.

"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 Worldwide Marketing.

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"With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps, enterprises, educators and artists have even more reasons to use iPad for all their business and personal needs," added Schiller.

Tech analysts first suspected that Apple was releasing an iPad with 128GB of internal memory when four devices labeled ultimate iPads appeared in a U.S. retailer's database.

The exact identity of the four devices was not identified in the database, but these "ultimate" devices were said to have represented configurations of the 4th generation iPad model with more memory than 64GB. They ended up being 128GB models of the Wi-Fi and Wi-Fi+ Cellular iPad in both black and white.

The codenames for these new iPads were P101 and P103. Apple normally uses words to categorize it's the amount of internal memory featured on its devices. The 16GB is labeled "good," the 32GB is labeled "better," and the 64GB model is labeled "best." "Ultimate" is the new name for a 128GB model.

Apple is most likely launching the iPad in order to stay ahead of the competition when it comes to internal memory on devices.

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