128GB iPad 4 Release Date Confirmed: Feb. 5, 2013, Will Cost $799

On Tuesday, Apple revealed the release date for its new 128 GB iPad 4: Feb. 5.

The new offering doubles the capacity of previous versions, though customers who want to get their hands on one will need to shell out an extra $100 over the price of the smaller 64 GB versions.

"The new 128GB versions of the fourth generation iPad will be available starting Tuesday, February 5, in black or white, for a suggested retail price of $799 (US) for the iPad with Wi-Fi model and $929 (US) for the iPad with Wi-Fi + Cellular model," said a statement from Apple.

The iPad 4 debuted in November of last year, just eight months after the release of the previous model, the iPad 3. With rumors of the iPad 5 in the works, consumers may want to hold off upgrading until the latest hardware is available, since iPads quickly become obsolete.

That's especially true with this update, since all it does is increase the storage. While that might be convenient for some users, it doesn't offer any performance upgrades, and the proliferation of cloud-based storage services makes a larger hard drive a tough sell, particularly for a minimum of $800.

Of course, if you want the latest and greatest and don't mind chucking it in a few months when the iPad 5 could be out, go for it.

Apple also released iOS 6.1 on Monday, so expect the new iPads to ship with it preinstalled. It includes additional support for 4G LTE networks, which should make streaming more convenient and faster for people with cellular-enables iPads.