At the moment there are two versions of Apple’s iPad available, the iPad 2, which was last years model and the new iPad 3 which launched earlier in the year, Apple is also expected to announce a new iPad Mini at their press event tomorrow.
This would mean that Apple would offer three versions of the iPad, with three different price points, but according to a recent report when Apple releases the new iPad mini they will phase out the iPad 2.
This would make sense for Apple to offer the iPad Mini and the new iPad alongside each other, of course this has yet to be confirmed by Apple, we should have more details at tomorrow when the new iPad Mini is announced.
Source Apple Insider
Apple has now launched their new iPad Mini, have a look at the difference between iPad and iPad Mini.