Apple Inc To Phase Out iPad 2 After Launching its iPad Mini?

Apple Inc. (NASDAQ:AAPL) launched its iPad 2 earlier in 2011. The iPad 2 was thinner with faster a processor and had better graphics than the first-generation iPad . According to an analyst at Evercore Partners, Rob Cihra, Apple will phase out its iPad 2 after introducing its iPad mini.

This may sound crazy, however, Cihra stated in a research note issued to investors this week that the move will streamline Apple’s (AAPL) product line. He added that the company will take this step because it wants clearer product tiers. He thinks that after the launch of iPad mini, the company will only be selling two models of  the iPad, the new 7.8-inch iPad mini and the regular 10-inch third-generation iPad. It is largely expected that Apple will launch the iPad mini in its event which is going to be held on October 23.

Cihra also predicted that Apple will sell approximately 7 million iPad minis during the last quarter of this year. Apple is soon going to unveil its profit for the third quarter and Cihra forecasted that Apple will post revenue of $36.5 billion.