Apple appears to be prepping a 128GB version of its current fourth-generation iPad. Three pieces of evidence have surfaced hinting strongly to that effect. iOS 6.1 beta code and icons for a 128GB have also turned up in iTunes 11, while an SKU
for the 128GB model has also been leaked to 9to5 Mac
by an employee of a major US retailer with the label 'Ultimate' attached to it.
Although it is unknown who is supplying the new flash memory, it seems likely to be Samsung; the Korean tech giant revealed in late September
that it was ramping up production of a new 128GB flash storage module. With the fourth-generation iPad launched by Apple just a month later, it was clearly never going to make it into the iPad at that time. However, enough time has passed for Samsung to produce sufficient supplies and for Apple to introduce them into its supply chain.
The introduction of a new 128GB fourth-generation iPad suggests that Apple is taking the threat to the dominance of its iPad line seriously. A storage bump might have been expected for the introduction of a fifth-generation iPad as a selling point, however it seems that Apple is moving to introduce the new configuration sooner to maintain its competitive edge. However, it is likely that a 128GB version could push the price of a cellular equipped model over $1000.