Refreshed internals, lower price point possible.
Microsoft Office for iPad Coming 'Sooner Than Most Think'
But I hear Ballmer and the senior leaders of the company may have had a change of heart towards the end of last year. According to one of my contacts, Ballmer OK'd the suggestion by the Office team that they'd bring Office for iPad to market as soon as it was ready, even though that would likely mean before the Windows 8 version. I'm hearing that new date for Office for iPad is some time in the first half of calendar 2014. (My sources last summer were hearing Office for iPad wouldn't debut until Fall 2014.)
Foley notes that it is still unclear in exactly what form Office for iPad will arrive, but it will presumably involve Microsoft's Office 365 subscription service and potentially integrate with the company's OneDrive cloud storage. The company currently offers an iPhone app that offers viewing and limited editing capabilities, with the available free of charge but requiring an Office 365 subscription.