Cheap iPad 2 may make appearance on March 7

Although the iPad 3 is set to debut very soon, the iPad 2 may get a new lease on life as well.

Next week, Apple will officially lift the veil on the next iteration of its tablet, which is setting a trend of one new model every year.

When the iPad 2 was announced, it was the official death sentence of the original iPad, but there might be something different brewing for the announcement of the iPad 3.

Specifically, there are growing rumors that Apple will unveil a new version of the iPad 2 alongside the iPad 3. These rumors suggest the former will have 8 GB of storage, half the amount of the current cheapest model.

The idea is to have a budget version of the iPad that consumers without a lot of disposable incomce will be able to flock to, instead of buying an Android alternative like the Kindle Fire.

The iPad 3 is expected to blow all other tablets out of the water, notably because of its Retina Display technology that will provide a mobile screen resolution unlike anything anyone else has seen to date.

Rumors of a cheap iPad being unveiled alongside the iPad 3 first popped up last year, but details were murky and some suggested that there would be a two-tiered version of the iPad 3.

To introduce a new model as another version of the iPad 2 means the iPad 3 will still have the clout that Apple fans want it to have. On the flip side, some have cautioned that Apple creating too many iPad models will lead to confusion and potential fragmentation in the market.

Apple thrives on offering only a very limited number of products, and while a lower-capacity version of the iPad 2 doesn’t really threaten that, it does muddle the product line just a bit.