Apple Unveils its Newest iPad

The device will be available on March 16 and priced from $499-$829 (£399-£659) - the same range as the iPad 2, which the technology giant launched a year ago.

The tablet will be powered by a super fast quad-core A5x chip, putting Apple's tablet ahead of competitors such as Samsung.

It will also offer a high speed 4G LTE network connection in territories with 4G - in the U.S., it will be available on both the AT&T and Verizon wireless networks. The network is not yet available in the Mauritius.

Despite this, Apple claims the battery lasts 10 hours and the device is just 9.4mm thick.

'Who will come out with a product that's more amazing than the iPad 2?' Apple CEO Tim Cook asked the audience at the San Francisco launch event. 'Stop wondering - we are'.

The screen, a larger version of the screen in iPhone 4s, is sharper than most 40-inch HD televisions.

Apple claims that the screen resolution is so sharp words on screen are sharper than words in print.

Mr Cook said: 'We are taking it to a whole new level and are redefining the category that Apple created with the original iPad'.

The new iPad also offers a 5 megapixel iSight camera which can record video in full HD.

Apple showed off new apps, including new versions of it's iWork apps such as iPhoto.

Many apps showed off the power of the new tablet - for instance editing 14 megapixel digital photos in full size on screen.

The processor is fast enough to handle a 3D game, Sky Gamblers, with 50 fighter planes battling on screen at once.

A new version of the hit iPhone title Infinity Blade showed off graphics similar to Xbox 360 and PS3.

A fresh edition of the GarageBand music software lets four iPads 'jam' together via Wi-Fi. Also, a newer version of iMovie allows users to record and edit full HD movies right on the screen.

The iPhoto app allows photo editing direct on screen, cropping pictures, editing lighting and adding effects such as red-eye reduction and black and White filters via the touchscreen.

The new iPad will be 9.4 millimeters thick, or 0.37 inches.

That compares with 8.8 millimeters, or 0.34 inches, for the iPad 2.

The weight is going up from 0,6 kg to 0.65 kg for the Wi-Fi-only model. The original iPad weighed 0.68 kg.

They offer speeds that are faster than the '3G' networks used by previous iPads, and current iPhones.

The company says the new model also will be four times faster.

Apple also unveiled a new model of its Apple TV set-top box which offers full HD films, television and web channels such as YouTube.

The new iPad and Apple TV devices will be available on store shelves on March 16.

The device offers built-in access to Apple's iCloud offering users online access to films they have purchased on other apple devices such as iPhone.

Apple announced that films and TV shows in iTunes store would now be available in 1080p, or full high-definition.

The company also revealed a new, cheaper 'entry level' iPad 2 for $399 - cheaper than any previous model.

Mr Cook also left the door open for 'a lot more' innovation in the next year - possibly a reference to the new iPhone 5 widely expected to launch later in 2012.

When the device goes on sale next week in the U.S. and several other countries, it will be 'the iPad' or perhaps 'the new iPad' - not 'iPad 3' or 'iPad HD,' as some had speculated.

Analyst reaction was favourable to the new device, with some predicting shortages.

'There is no doubt that peopple like Blackberry maker RIM and Google will struggle to compete. The key is really  the apps - we have seen

high resolution screens before, but Apple has 200,000 apps that nobody can compete with,' says analyst Avi Greengart.

However, Mr Greengart warned Apple's plan to ship the new iPad to dozens on countries when it launches could cause problems.

‘There is going to be a huge amount of demand, so I think simply getting enough units out there is going to be a challenge,’ he said.

‘I know I want one, and a lot of other people will too.’

The lack of a new name may cause confusion for buyers, particularly since the older model, the 'iPad 2,' will still be sold.

Last year, Apple sold 172 million of what it described as post-PC devices  - iPhones, iPads and touchscreen iPods.

The company has now sold 315 million devices running its iOS operating system.

Apple had sold more than 55 million iPads around the world as of January this year.

In the run-up to launch, the new gadget ignited a frenzy among fans.

Data company Experian Hitwise says that one in 2000 of all internet searches have been for terms related to iPad 3 over the past week.

'Demand for the iPad 3 online reached its peak in the last week as 1 in every 2000 searches online were iPad 3 related,' says the company.

Some industry experts are even predicting the end of personal computers as touch-screen tablet-style computers grow in popularity.

Apple announced that more than 25 billion apps have been downloaded from its App Store by customers.

Long lines formed outside Apple’s flagship store in Regent Street in central London two years ago as hundreds vied to get their hands on the original iPad when it was launched.

The company sold more than one million iPads in the U.S. in the first 100 days making it a better seller than the iPhone.

Sarah Rotman Epps, an analyst for Forrester Research, said the device's Android competition has failed because most technology companies fail to see that the 'apps' are more important than the hardware.

'It's about the services - what you can do with the device,’ she said in a blog post.

Apple's competitors have slowly come to realize this, but only after bringing out dozens of tablets with whiz-bang features like 3-D cameras.

The company’s last release was the iPhone 4S - complete with voice recognition software - which went on sale in October.

It was launched just nine days after Apple’s pioneering former chief executive Steve Jobs died following a lengthy battle with pancreatic cancer.

The launch was seen as a key 'test' for new CEO Tim Cook.

The competitor that has done the best is Amazon.com Inc.

Its Kindle Fire tablet is cheaper than the iPad, and also tied into Amazon's book, movie and music stores, making it an easy route to entertainment, just like the iPad.

Still, the Kindle Fire has a long way to go.

Epps estimates that Amazon sold 5.5 million Kindle Fires in the fourth quarter of last year. Meanwhile, Apple sold 15.4 million iPads, and has sold 55.3 million in total.

According to Canaccord Genuity, 63 percent of the tablets shipped last year were iPads.

The only competitors with more than 5 percent market share were Amazon and Samsung.

The iPad launch comes as Apple has reached a rare milestone: last week, it was worth more than $500billion.

Only six other U.S. companies have been worth that much, and none have held that valuation for long.

On Tuesday, Apple's stock had fallen, bringing its market value down to $494billion, but analysts believe it the company is worth closer to $550billion.