Apple unveils with double storage

Apple yesterday announced that it will release an iPad with double the storage of its current largest model on Feb. 5.

The new iPad will feature a 128GB hard drive. Apple's current largest has 64GB.

With more than 120 million iPads sold so far, the company wants to offer more capacity for storing media, Apple spokesman Philip Schiller said yesterday.

"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," he said.

The announcement came after Apple hit its lowest share price in nearly a year on Monday, down almost 3.57% at $501.75 at closing.

The 128GB version of the iPad will feature its usual 9.7-inch Retina Display, an Apple-designed A6X chip, a FaceTime HD camera, and the latest iOS 6.1 operating system.

The new tablets have a suggested retail price of $799 for the iPad with Wi-Fi model and $929 for the iPad with Wi-Fi + cellular.