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Make way for iPad 3: Best Buy slashes iPad 2 prices

Follow the Apple iPad 3 launch live with our liveblog from the event: Live: Apple iPad 3 launch.

Best Buy over the weekend began advertising a $50 price cut on the iPad 2, seemingly signaling that Apple's iPad 3 is really on the way.

New iPad review

The Best Buy price cuts are good for any model, from 16GB to 32GB to 64GB, including Wi-Fi and 3G versions. So a 16GB model with Wi-Fi, usually priced at $500, is on sale for $450, and the high-end 64GB model with Wi-Fi and 3G, usually priced at $830, is now priced at $780.

Apple iPad markdowns are rare, with the last major ones coming on Black Friday in November. Some competitors have really gone after Apple on pricing of late, too, with Amazon making its pitch that you can get three Kindle products for the price of one iPad 2.

Apple watchers are focusing on March 7 as a likely day for the company to announce its iPad 3, or whatever the next version of the market leading tablet computer will be called. A quad-core processor, LTE support and a Retina Display are among the expected iPad upgrades.

Enough supposedly leaked images of the iPad 3 have now trickled out that you can practically create a Frankenstein-like monster from them now to get a sense of what the new tablet might look like.

According to the latest numbers from market watcher iSuppli, Apple owns 57% of the tablet market, having shipped 15.4 million iPads in Q4.

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