Apple officials announced today the details on the eagerly awaited new iPad.

First of all, it won't be called the 'iPad HD' or 'iPad 3' as originally thought. Some of its features include a better display, a faster chip and 4G connection.

Some of the best news is that pricing for the new iPad will be similar to that of the iPad 2. $499 for the Wi-Fi only 16GB version, $599 for the 32 GB, and $699 for 64GB. The 4G models will run from $629 for 16GB, $729 for 32GB, and $829 for 64GB.

The new iPad will launch Friday March 16th and will be available in black and white.

Click here for more details.