The new iPad hits the market on Friday, March 16 at 8 a.m. worldwide and Apple fans in Australia will be among the first to get their hands on the new tablet. In the U.S., the coveted device will hit Apple stores as well as retailers such as Wal-Mart, Target and Best Buy. This is exciting news for first time iPad buyers or those who want to switch from Android but what about those who already own its predecessors - iPad 2 or iPad original?

Well, here's the good news for them - the tech giant is offering trade-ins for the old gadgets, including the iPads. Currently, a great number of customers are on Apple's Reuse and Recycling Program to check the deals in detail.

If your iPad 2 is the highest-end 64GB Wi-Fi + 3G edition, and if it's still in good condition, you will get an Apple Store gift card worth as much as $320 in exchange for your iPad 2. You can apply the gift card to purchase the new iPad.

And, even if your iPad is low-end model or might less full-featured with some scratches, wear or tear on it, you still can get some type of reward. Naturally, the reward will be less.

For instance, iPad 2 in other edition and in perfect condition can get the deal as follow.

• iPad 2 Wi-Fi (16GB) - $205 • iPad 2 Wi-Fi + 3G (16GB) - $250 • iPad 2 Wi-Fi (32GB) - $245 • iPad 2 Wi-Fi + 3G (32GB) - $280 • iPad 2 Wi-Fi (64GB) - $275 • iPad 2 Wi-Fi + 3G (64GB) - $320

The defective and even non-working iPads can still get some reward, but considerably less. More specifically, the 16 GB Wi-Fi-only iPad 2, if scratched, water damaged and non-working, will net you $50, whereas the 64 GB Wi-Fi + 3G model in the similar condition will get you $80.

In comparison, if you search the eBay's Instant Sale site, you can find an offer of $130 for a 16 GB Wi-Fi iPad 2 in non-functional condition.

Amazon also offer iPad trade-in program, but Amazon doesn't accept the non- functional one.