The new iPad has an updated A5X dual-core processor with a quad-core GPU graphics chip, twice as fast as the Tegra 3, which Apple claims has four times the performance.
It's has an iPhone 4S esque Retina display with the 9.7-inch screen to boast an impressive 2048 x 1536p resolution and 264 pixels-per inch.
Having used part of the early presentation to talk about Siri, the device won't be loaded with the technology that first appeared on the iPhone 4S. It will however have voice dictation which allow users to seamlessly transcribe letters at will.
For US users the tablet will also play host to 4G LTE connectivity options.
The new iSight camera is 5MP, and can take 1080p HD video. Much of this technology seems to be ported from the iPhone 4S.
There have been improvements with the battery life too, with 10 hours of life generally and an astonishing 9 hours on 4G
Fulfilling a flurry of rumours, the new iPad will land almost 1mm thicker than its predecessor lining up at 9.4mm thick and 1.4lbs (635g) in weight.
Apple iPad 3 UK Release Date
Following the trend set by last year's iPad 2 launch and living up to a number of rumours, Apple has revealed that the eagerly awaited iPad 3 UK release date will take place in just nine days time with the next-gen tablet to hit stores in the UK on Friday March 16th.
With iPad 3 pre-orders opening via the official Apple online store now, the third-generation tablet will touch down the same day the Cupertino based company officially opens new retail stores in Houston, Texas and London's iconic department store Harrods.
Apple iPad 3 Price
With the long awaited new Apple iPad 3 now a thing of reality following its official unveiling, Apple has revealed the tablet will follow the pricing structure of its predecessor with new iPad 3 prices to start from just £399.
Despite a number of pre-release rumours suggesting the inclusion of a 9.7-inch Retina display would see the market leading tablet follow-on land as much as £50 more expensive than its predecessor, Apple has officially revealed it will maintain the pricing plans set out by the formerly dominant iPad 2.
Kicking off with the 16GB Wi-Fi only model, those looking to snap up the third-generation iOS tablet will need to part with £399 with those requiring 32GB or 64GB of internal storage having to splurge £479 or £559 respectively.
On the Wi-Fi + 3G front, wannabe iPad 3 owners looking to access the web at will need to part with £499, £579 or £659 depending on their choice of 16GB, 32GB or 64GB storage options.
What do you make of the newly unveiled Apple iPad 3? Will you be snapping one up when it lands in the UK on Friday March 16th? Let us know via the T3 Twitter and Facebook feeds.
For more Apple videos and all the latest tech videos, head to the