UK mobile networks, T-Mobile and Orange have slashed the price of the iPad which could mean the iPad 2 is right around the corner. Both networks currently offer the iPad at a subsidized price when you sign up for a 24 month data contract.

Originally Orange offered the iPad 16 GB WiFi + 3G for £199.99 ($323) for existing customers or £229.99 ($372) for new customers, now that has been slashed to just £99.00 ($161). T-Mobile also now offers the same model iPad for £99.00 ($161)  but only to existing customers. The downside of course is the 2 year data contract that you have to sign up for at around £25.00 ($41) per month.

Usually on the run up to a product refresh, it is common practice for vendors to look to dump inventory by cutting prices. The more cynical amongst us may also point out that the original prices were a little on the extortionate side to start with. This price cut may just enable Orange and T-Mobile to actually sell some iPads now.

Either way, we do expect to hear some concrete iPad 2 news very soon, watch this space!