Apple Inc. (NASDAQ: AAPL), the Cupertino, California-based technology company, successfully launched the iPad tablet computer in April 2010. And now word has it that Applehas now started manufacturing a new version of the iPad, which is likely to have a built-in camera and a faster processor.
Sources familiar with the matter said that new version of the iPad will be thinner and lighter than the first model. They also said that the new version will be available through Verizon Wireless and AT&T initially. Apple declined to comment on the reports of a new version of the iPad.
The iPad has been one of the most successful products in Apple�s history. Apple already sold almost 14.8 million units of the tablet computer since its launch, which is way above the most optimistic estimates. For the quarter ended December 31, 2010, the iPad contributed around 17% to the company�s overall revenue. This is a terrific achievement, considering that the product was only launched a few months before.
Apple watchers say that the new version of the iPad is expected to hit the market in the next two months. The new version will face increasing competition as the tablet computer market heats up, with more and more companies entering into the market. But, for now, Apple is the dominant force in the tablet computer market.
According to estimates by brokerage firm Piper Jaffray & Co., the company will sell around 27 million units of the iPad in 2011. Piper Jaffray analyst Gene Munster adds that the product is expected to be the critical growth driver for the company in the future.
The launch of innovative products such as the iPad gave a big boost to Apple shares. Apple shares once again touched an all-time high of $359 in today�s trading. After the strong performance last year, Apple shares continued their climb this year as well. Year-to-date Apple shares climbed 10.92%.
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