So that 128GB iPad? It’s real, and it’s available from Apple on Feb. 5

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If 64GB isn’t enough storage space for you to deal with on your iPad, Apple’s got another option for you. Starting next Tuesday, Feb. 5, Apple will begin selling a 128GB iPad, the company announced Tuesday. It will come in black or white and will be available with Wi-Fi only for $799 or Wi-Fi + Cellular for $929.

It’s unusual to move from an Apple rumor to actual product in the course of just a few days, but that’s what happened this week. In a press release, Apple framed the move to release its biggest-ever capacity mobile device as a way to help professionals in a variety of industries replace their traditional computers with the iPad; it mentioned the need for designers, the recording industry and professional athletes to use software on their iPads that requires a lot of storage space.

“With more than 120 million iPads sold, it’s clear that customers around the world love their iPads, and everyday they are finding more great reasons to work, learn and play on their iPads rather than their old PCs,” said Philip Schiller, Apple SVP of Worldwide Marketing, in a statement. “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.”

Besides selling a pricier iPad to professionals, this could be a way to slightly increase Apple’s profit margins — which dipped over the last quarter. The costs of flash memory are generally incremental, but the company is charging an extra $100 dollars for users that want double the available storage of the 64GB iPad.

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