Ahead of the rumoured Apple iPad 3 release date, US retailers have begun slashing the current price of the Apple iPad 2, with one retailer knocking $70 off the 16GB Wi-Fi Apple iPad 2.

The price cut suggests, even more, that the rumoured Apple iPad 3 is soon to be announced and released.

US retailer Meijer is currently offering the best deal on the Apple iPad 2 with a $70 price cut. The price cut is also the biggest since the iPad 2 launched last March.

However, with limited stock, the deal will only be available for so long.

Regarding the, yet to be announced, Apple iPad 3, an unnamed insider has this to say:

"The new display is capable of greater resolution than the current iPad, with more pixels on its screen than some high- definition televisions. The pixels are small enough to make the images look like printed material. Videos begin playing almost instantly because of the additional graphics processing."

The Apple iPad 3 is also rumoured to feature an A6 quad-core CPU and improved optics for the rear-mounted camera.

What do you make of this news? Will you be rushing out to purchase a discounted iPad 2, or will you be purchasing the upgraded Apple iPad 3?