Tesco is selling the new iPad (nicknamed the "iPad 3") for just £49.99, according a product entry on the Tesco Direct website, which crashed just half an hour after our development team spotted it in a post on the Liverpool FC forum.

The entry, for an iPad Wi-Fi 4G 64GB black could only be accessed by going to the main Tesco Direct page and keying in the product code "213-2623"

Tesco Online

The editorial team at Computerworld UK tried to buy a couple of units for ourselves but the website jammed at the payment page of the online ordering system, probably because the news had spread virally by then.

Tesco has reacted quickly - in the fifteen minutes that we've been writing this story, they have pulled the product entry off their website, which is now back online.

Here is a screen shot of the email receipt our dev team received from their purchase, including a token £5 delivery charge:

iPad 3 being sold by Tesco Direct

Since the product entry has been pulled off the website, clearly this must have been an error by Tesco (especially as Apple has apparently already sold out of preorders for the new iPad), but we were wondering - will the people who managed to purchase the item in time on Tesco's online ordering system be able to receive their iPads for just £50?

Probably not.

Under the terms and conditions for Tesco Direct, it states:

"If, by mistake, we have under-priced an item, we will not be liable to supply that item to you at the stated price, provided that we notify you before we despatch the item to you. In those circumstances, we will notify the correct price to you so you can decide whether or not you wish to order the item at that price. If you decide not to order the item, we will give you a full refund on any amount already paid for that item in accordance with our refund policy."