The 128GB device will boast twice the storage of the 64GB iPad, which is currently the model with the most available storage. The bumper-edition slate will cost £639 for the Wi-Fi only version, and a pricier £739 if you want the version that has a SIM-card slot for mobile data.
That's a lot of cash to splash on a tablet, so I'd recommend only opting for this iPad if you really do need that much space. Many iPad owners are content with just 16GB of storage, so don't even consider blowing this much wonga on a tablet unless you're a bit hoarder of high-definition movies.
Apple's press release hints that this cavernous tablet may be designed with schools or businesses in mind, which could buy the tablet in bulk to dish out to students or employees. "With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps," Apple bod Phil Schiller is quoted as saying, "Enterprises, educators and artists have even more reasons to use iPad for all their business and personal needs."
Apart from extra space, there's no difference between this new iPad and the current model. You get a 9.7-inch display with a high-resolution retina display, as well as modern conveniences like access to Apple's app store, iTunes, Siri and other software treats.
If you're considering buying one, then point your peepers at our review of the retina model that came out earlier this year, and perhaps consider the dirt-cheap £160 Nexus 7 at the other end of the tablet price spectrum.