Apple's older iPad 2 now sells for $399

SAN FRANCISCO Wed Mar 7, 2012 3:24pm EST

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SAN FRANCISCO (Reuters) - Apple Inc slashed the price on the iPad 2 to $399, minutes after announcing that its third-generation tablet hits store shelves next week.

CEO Tim Cook revealed details of the company's third-generation, 4G-ready tablet on Wednesday at a tightly scripted event in downtown San Francisco.

(Reporting By Poornima Gupta and Alexei Oreskovic)