‘And the long wait finally ends.’

Apple has finally introduced its much awaited “The New iPad”, the third generation tablet computer and predecessor of its previously released ground-breaking iPad 2.

The new iPad, formerly rumored to be named as “iPad HD” or “iPad 3”, provides a higher-resolution Retina Display, like the iPhone 4 and iPhone 4S, offering a resolution of 2048×1536 or 3.1 million pixels. The device also features an updated processor plus a 4G connection.

Earlier, the company wrapped up most of the market competition with its second launch of iPad 2 a year ago which received a record number of selling. Continuing with that dominancy, Apple also announced lowering the price of two models of iPad 2. However, the pricing scheme for“The New iPad” remains the same as it was with iPad 2.

The Wi-Fi only versions of “the new iPad” cost $499 for 16GB; $599 for 32GB and $699 for 64GB. However, for 4G it costs $629 for 16GB; $729 for 32GB; and $829 for the 64GB version.

The new iPad is available in black or white color, similar to its prior versions.

The Third Generation Tablet Computer And Predecessor

The New iPad Features

Apart from ‘higher-resolution Retina screen’ that offers a 2048×1536 or 3.1 million pixels resolution, the new iPad offers following new or updated functions-

Upgraded Processor

The newest version includes an upgraded processor A5X, improved copy of A5 chip utilized in the iPad 2 and iPhone 4s. Apple says the A5X is four times as fast as Nvidia’s Tegra 3 quad-core processor, while A5 is only twice as fast.

4G LTE Network

The new iPad also became the first Apple device to have support for 4G LTE networks. The 4G-connected iPad will be able to double as a personal hot spot, similar to other 4G gadgets. The device will be able to connect to five devices via Wi-Fi. There would be two versions of iPad compatible with LTE in the U.S., said Apple worldwide marketing VP, Phil Schiller.

One will be for Verizon Wireless, while the other will be for AT&T’s LTE network. The new iPad includes a 3G technology as well, allowing users to get connected to network using it when there is no 4G LTE coverage.

5 Mega Pixel Cameras

The new tablet features a 5-megapixel camera on its backside which allows for 1,080-pixel video recording and image stabilization.

Battery Life

The new iPad will have roughly 10 hours battery life. However, it may change to 9 hours when on 4G. The device will weigh 1.4 pounds.