Retail in Asia

In Trends

Apple to release iPad3 next week

Apple, the world’s most valuable company, will hold a product event on 7 March in San Francisco, where it’s said to be releasing the third generation of its best-selling iPad tablet computer.

"We have something you really have to see. And touch," Apple said on Wednesday in an invitation, which features a picture of an iPad screen. The new device will sport a high-definition display, run a faster processor and work with speedier wireless networks, people familiar with the product said last month.

After pioneering the tablet market two years ago, Apple is counting on the new model to beat back competition from newer devices running Google Inc.’s Android software. The company has sold more than 55 million iPads, generating at least USD34.5 billion in revenue. Amazon.com Inc.’s Kindle Fire, which uses Android, emerged as the iPad’s biggest rival over the holiday shopping season last year.