According to 9 to 5 Mac, several sources are suggesting that we’ll see a new version of the iPad 4 soon that sports 128GB of inbuilt storage. In the latest developer version of iOS 6.1 there is support for more storage, hinting that at least one iOS device will get a storage upgrade.
There isn’t a release schedule, so we have no idea when the next iPad will come out. However, it won’t force the other iPads down a price level, the new 128GB iPad will cost $799 for Wi-Fi, $929 cellular and Wi-Fi model. The other iPads will stay at the same price, so don’t hold off on buying an iPad 4 for this upgrade – you’ll be waiting for no real reason. It might not even hit shelves, and be reserved for government agency use or internal usage.
Does the iPad need more storage? With a display capable of showing 1080p content, it might need it to store them – each 1080p movie is around 10GB (compressed obviously). And until internet connections get faster and more available out and about, people can’t rely on cloud storage. It’s also a very inexpensive thing for Apple to do (64GB of solid state memory costs ~$40), and they can charge another $100 for it, so it’s logical.