Following rumors from Monday that Apple may begin offering iOS devices in 128GB capacities, the company announced on Tuesday that it is indeed launching a 128GB iPad starting next week. The new model joins the existing fourth-generation line-up of 16GB, 32GB, and 64GB models and comes in black and white. It will be available with or without 4G LTE wireless networking.

Apple SVP of Worldwide Marketing Phil Schiller said the reason for the capacity bump was to aid users who are increasingly using an iPad to replace an existing desktop or laptop PC. "With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps, enterprises, educators, and artists have even more reasons to use iPad for all their business and personal needs," he said in a statement.

Apple also cited developers of several high-end apps for iPad, including Autodesk, who said that the increased capacity is necessary for those users that continually push the data storage limits of existing iPads.

"Our AutoCAD WS app for iOS was designed to give customers seamless access to their designs anywhere, anytime," Amy Bunszel, vice president of AutoCAD products for Autodesk, said in a statement. "These files are often large and highly detailed, so having [extra capacity] is a real advantage for iPad users to view, edit and share their AutoCAD data."

As predicted, the new 128GB iPad costs $799 for a Wi-Fi model, and $929 for a Wi-Fi + Cellular model. Both versions are expected to be available online and in stores on Tuesday, February 5.