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SAN FRANCISCO — Apple executives unveiled the latest version of the company’s enormously popular iPad tablet, which features a stunning new high resolution display that could rival a home television set.

“Everyone’s been wondering, who will come out with a product that’s more amazing than the iPad 2 with its big beautiful 9.7 inch screen. Super fast A-5 chip, all day battery. And elegant, think design. Everybody’s been wondering this, well stop wondering,” said Apple CEO Tim Cook.  “We are.  Today we’re announcing the new iPad and it is amazing. We’ve taken it to a whole new level, and we are redefining the category that Apple created with the original iPad. It makes amazing improvement over the most fundamental features of the design of the device. While retaining everything that millions of people have grown to love about it.”

The new model also features a faster processor.

The iPad 3 will go on sale March 16. Prices aren’t expected to change and start at about $500.

Read more about the new design here.