Digitimes, yesterday broke the news of Apple’s plan for the release of iPad 3. According to its sources, Apple on March 7th event in San Francisco, may announce the iPad 3 along with an iPad 2 8GB. iPad3 will be available in two version, 16 GB And 32 GB, making no mention of a 64 GB version or even a potential 128 GB version that some users have been hoping for.

Apple has already placed massive orders to manufacturers as it’s expecting heavy iPad 3 demand. The iPad 3 is expected to have a 9.7-inch Full HD QXGA panel with a resolution of 2048 by 1536 (264dpi) and its backlight module will adopt two LED light bars.

Besides the iPad 3, 8 GB iPad 2 version will also be introduced in order to make Apple’s tablet series a little more appealing to the entry-level markets.

” In addition to iPad 3, Apple is also expected to unveil an 8GB iPad 2, allowing the tablet PC series to cover different segments and to defend against Windows 8-based tablet PCs, the sources noted.“

Retailers have already reduced the prices of the existing 16GB and 32GB iPad 2 by US$50 to US$449 and US$549, and the new version of iPad2 8 GB expected to be priced around US$349-399.

Although Apple is only reducing prices by US$50, demand from consumers is still expected to rise, since the product is still leading its competitors in terms of technologies by about half to one year.