Here are your Apple rumors and AAPL news items for Wednesday:
Apple To Unveil iPad 3, May Gain over Rivals: As Businessweek reports, Apple (NASDAQ:AAPL) will unveil the iPad 3 today — likely the most significant overhaul of its tablet yet. Not only has the iPad 3’s release drawn unparalleled media attention, but AAPL also might slash the price of the iPad 2, which would undercut the market share currently enjoyed by Amazon‘s (NASDAQ:AMZN) less expensive Kindle. Analysts predict that Apple will cut the price of its iPad 2 to $399 down from $499, edging it closer in price to the $199 Kindle Fire. While the Kindle Fire has managed to corner the market among bargain shoppers, Apple seems intent on appealing to more frugal purchasers as well — with rumors mounting around a pending line of less expensive tablets, including a compact iPad. The iPad was the primary motivator for Apple’s rapid ascent in market value; since its April 2010 debut, AAPL’s market value has increased 125% and quarterly sales have nearly tripled.
Samsung Sues Apple in South Korea: According to Reuters, Samsung (PINK:SSNLF) has brought fresh patent litigation against AAPL in South Korea. Apple and Samsung have engaged in a protracted patent battle incorporating 30 suits across 10 countries — with Samsung further escalating conflict by staging suit in its founding nation. In this hearing, Samsung is bringing claims that Apple’s iPhone 4s and iPad 2 breach three of its key utility patents. The suit was filed on Tuesday, and Samsung maintains that Apple’s tablet and smartphone infringe upon basic Samsung patents covering data display and user interface.
Top-Selling iPhone Apps Released: The Associated Press has recently released a list of the top-selling iPhone apps as of March 5, 2011. Apple’s online app store has broken 25 billion app purchases, and Draw Something By OMGPOP topped the list. Other top-selling apps include Electronic Arts‘ (NASDAQ:EA) Bejeweled (No. 3) and Rovio’s Angry Birds (No. 6).
Adam Patterson is Assistant Editor of InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities. For more from the company, check out our previous Apple Rumors stories.