Apple Unveils iPad 5

The wait is finally over and Apple has unveiled the iPad 5.  Speaking at the launch event in San Francisco, Phil Schiller announced the next iteration of the company's tablet. It's thinner, lighter and more powerful – hence the new name: the iPad Air.

Here are some specifications of the new iPad Air:

9.7" Screen with Retina Display
20% thinner only 7.5mm as compared to iPad 4 which is 9.4mm
Weight: Only 1 Pound
New A7 Processor
M7 Motion Coprocessor
New name called "iPad Air"
Up to 8X faster as compared to iPad 4
Faster Wi-Fi
Three Colors: White, Space Gray and Black
Price: Starts at $499 only