Apple Inc. (NASDAQ:AAPL) officially announced 128GB iPad 4 with Retina Display. On Monday, we shared the possibility that Apple could release such a device and now it’s been confirmed.


On Tuesday, they announced 128GB iPad will be released on February 5th. The device will retail for $800 for the wi-fi and $929 for wi-fi and cellular networks. It will feature all the same features found on the iPad 4 including 9.7 inch Retina Display, FaceTime HD camera, A67 processor, built-in applications, and more.

The new iPad is comparable to the upcoming Surface with premium features and Windows 8.  The upgraded Microsoft tablet will start at $899 for 64GB of storage and 128GB for $999. The new Surface will arrive a few days after the new iPad.

Surprisingly, the 128GB iPad is the more affordable option.

Despite the bargain price, the new tablet may not appeal to the average tech consumer. Apple Inc. (NASDAQ:AAPL) might fair better by targeting this device to businesses. In just the past few years, the Cupertino-based tech giant has been trying to woo businesses and fortunately, their efforts have been paying off.

More businesses are adding iPads to their company assets. Apple recently shared that nearly all Fortune 500 companies and over 85 percent of Global 500 companies use iPads for business matter.

Apple’s press release for the 128GB iPad mentioned that the tablet is ideal for high volume storage for such files like music tracks, film edits, project blueprints, three dimensional CAD files, and x-rays.

Not surprisingly, Microsoft Corporation (NASDAQ:MSFT) has been trying to win over business as well. The Surface tablets were designed to appeal to their Office Suite customer base. The  keyboard covers for the tablets are also marketed as lightweight laptop replacements which are ideal for clients who need to access their work wherever they are.

Apple Inc.’s (NASDAQ:AAPL) current offering should appeal to more businesses and could be just the thing to turn the company’s faltering performance around.