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Apple's new iPad2 lid design causes a bit of a stir in Japan
3rd parties will inevitable create variants that use the magnet locking and take advtange of the fact that the magnetic catches also wake the device.
Don't like the colors available? You won't have to wait long for the aftermarket guys to come out with hundreds ov different options.
http://www.engadget.com/2011/03/03/apple-ipad-2-smart-cover-vs-incase-convertible-magazine-jacket/