Say Goodbye to the iPad 2

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Ipad 2

According to anonymous sources who spoke to Apple Insider, Apple (NASDAQ:AAPL) is planning to soon stop production of the iPad 2 because consumers turn to its newer iPad mini and iPad Air tablet models.

Apple first began selling the iPad 2 in March 2011 and has continued to offer the device at a price point of $399 since the iPad 3 with Retina display was introduced. Now the more compact and higher-resolution iPad mini with Retina also costs $399, so it makes no sense for Apple to continue offering the iPad 2 or for customers to continue buying it unless the company planned to further cut the price.

Apple introduced the new iPad Air and iPad mini 2 with Retina display in October. When the company reported fiscal first-quarter results late last month, it revealed that it sold 26 million iPads to make “an all-time quarterly record” during the holiday quarter.

Apple Insider pointed out that the iPad 2 has held on to have strong sales for much longer than one would expect for an older device. A report released by Localytics and seen by the website in October showed that the iPad 2 still accounted for 38 percent of Apple’s total iPad sales in the month before the release of the new iPad lineup.

The release of the new iPad units caused a large drop in sales of the iPad 2. According to a note from Consumer Intelligence Research Partners seen by Wall St. Cheat Sheet, the iPad Air accounted for 41 percent of Apple’s total tablet sales during the fourth quarter. The two iPad mini models together accounted for another 41 percent. The iPad with Retina display made up 13 percent, and the remaining 5 percent came from the older iPad 2.

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