The price of the iPad 2 has fallen, following Apple's launch of the 'new iPad' last night.

The iPad 2 16GB tablet has dropped in cost by £70. Meanwhile, Apple has suspended sales of the 32GB and 64GB versions which boast a larger memory.

Retailers such as Argos, Comet and Tesco are yet to reduce prices when we checked, though they are expected to in the next few days.

Apple online store iPad 2 prices

Wi-fi only Wi-fi + 3G
Old price New price Old price New price
16GB £399 £329 £499 £429

The new iPad will be available in UK stores from Friday 16 March.

It features an improved five megapixel camera, retina display (which means a sharp display) and a 1080p full HD screen.

It costs from £399 for the 16GB Wi-fi only model, and £499 for the Wi-fi + 4G model.