Apple is to discontinue the iPad 2, making the iPad with Retina display (iPad 4) its entry-level tablet.
The iPad 2 was launched in 2011 and was touted as "about 33 per cent thinner than its predecessor and 15 per cent lighter."
At launch, the 16GB iPad 2 with Wi-Fi cost 399 in the UK, while the 16GB iPad 2 with Wi-Fi + 3G started at 499.
The iPad 4 was discontinued in October when the iPad Air launched, but Apple has now decided to re-introduce it at a price of 329 - 80 cheaper than the 16GB iPad Air.
Apple's entry-level 9.7-inch tablet will only come in the 16GB variety, but will be available in either black or white and as a Wi-Fi-only or Wi-Fi + Cellular version.
It is thought Apple wants to standardise its products and get rid of the iPad 2 because it uses the 30-pin connector rather than the Lightning port, as seen on newer Apple devices.
The iPad 4 features Apple's dual-core A6X chip and is slightly thicker, larger and heavier than the iPad Air Apple's top of the range tablet.
Research by Gartner suggests Android tablets are proving more popular these days than iPads. In 2013, 62 per cent of tablets sold were Android-based, while only 36 per cent were iPads.
The analyst firm explained Android tablets are available at more competitive price points the same reason worldwide shipments of Android smartphones outpace those manufactured by Apple.
A spokesperson from Gartner explained: "As the Android tablet market becomes highly commoditised, in 2014, it will be critical for vendors to focus on device experience and meaningful technology and ecosystem value beyond just hardware and cost to ensure brand loyalty and improved margins."
