While stopping short of vaulting ahead of Motorola and Samsung, the device -- which comes 4G-ready and boasts a quad-core graphics processor -- is capable enough to help safeguard its two-thirds market share. "The screen is a notable feature for non-techie customers, as is the faster connectivity. That's something that mainstream consumers can identify with," said Morningstar analyst Michael Holt. "There's pent-up demand because a new device was widely anticipated. I they've made enough incremental improvements to do well."
 

Other analysts say the faster processing may begin to draw heavy gamers, encroaching on turf now dominated by gaming-hardware makers such as Microsoft or Sony.
 

Chief Executive Tim Cook, presiding over his second major product launch after debuting with 2011's voice-enabled iPhone 4S, introduced the highly anticipated third iteration of the tablet, which is available for pre-orders from Wednesday and will hit store shelves March 16.

But he stumped many in the audience by breaking away from the tradition of calling the third-generation tablet the iPad 3, as some had expected, referring to it simply as the "new iPad."
 

The company said it will continue to sell the iPad 2 but dropped its price by $100. The older tablet now starts at $399 while the new third-generation wi-fi only iPad starts at $499.
 

The high-end model of Apple's latest iPad starts at $629 and will be capable of operating on a high-speed 4G "LTE," or Long-Term Evolution, network. At speeds roughly 10 times faster than current 3G technology, that may help banish the sometimes shaky video quality of older devices.