Today in Tech: iPad 2 in production, Nokia’s burning platform

A curated selection of the day’s most newsworthy tech stories from all over the Web.

  • According to sources, Apple is already knee-deep in production of the next-generation iPad, or iPad 2, which will be thinner and lighter, sport at least one built-in camera for video chat, a significantly faster processor, more memory, and a screen resolution similar to the current version’s 1,024 by 768. Expect WiFi, AT&T and Verizon versions priced in the same range as the current iPad editions, which go for between $499 and $829. (Wall Street Journal)
  • In a company-wide email from Nokia CEO Stephen Elop, the exec says the company is essentially under attack from all sides in the smartphone arena: Apple owns the high-end, Android rules the mid-range, and Chinese competitors like MediaTek will likely dominate the low-end. “We’re going to decide how we either build, catalyse or join and ecosystem,” wrote Elop.”This is one of the decisions we need to make.” So where does that leave Nokia? With a tough decision, apparently. It could be forced to adopt a competitor’s platform like Windows Phone 7. Also, the traditionally European-based company may set up a “virtual HQ” in Silicon Valley, where the CEO’s strategy and marketing departments, as well as MeeGo development could be relocated. (Fortune and TechCrunch)
  • Verizon is working on a new Internet 4G calling service, dubbed VoLTA, that offers better sound quality than its current network and is capable of video chat, as well as simultaneous voice and Internet usage. The new voice and video protocol runs off the new-and-improved wireless data network Verizon started rolling out in December,  the goal being for VoLTA to eventually replace the infrastructure that cell phones have relied on for more than a decade. LG’s Android-loaded Revolution 4G will be the first to have this feature. (CNN)
  • It’s official: Facebook is moving into Sun Microsystems’ old headquarters, an 11-building, 57-acre, 1 million square foot property in Menlo Park, California, which can accommodate 3,600 people and 3,700 cars. The social network also bought a 22-acre building connected to the campus via tunnel for “possible future development as a subsequent expansion phase.” (Facebook and TechCrunch)
  • Ebay anticipates PayPal will eventually become its biggest source of revenue and plans to unveil a three-year plan tomorrow during an analyst meeting for expanding the business and competing again Google and Apple. That should include its strategy for PayPal mobile, BillMeLater and its open-platform effort, which will let outside programmers work with its software. (Bloomberg Businessweek)

Sign up now to get Today in Tech emailed to you each and every morning.

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.