Newer Technology (http://www.newertech.com) has announced the Pad Protector, an US$24.95, lightweight leather folio/carrying case for the iPad. It’s available in choice of red or black leather.

The Pad Protector features a leather cover that discreetly fastens with the use of high-powered slimline magnets. Inside, smooth suede leather provides a scratch-free environment for an iPad. A top loading, full-framed holder keeps the iPad in place while allowing complete access to all ports and controls.

A magnetized flap acts like a “kickstand,” so the iPad can be positioned for optimum viewing and typing comfort. The Pad Protector weighs 7.8 ounces and includes a bonus screen protector.