Apple likely to launch iPad 3 on March 7

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

Apple, which sent the invitation to reporters by email on Tuesday, did not divulge details of the event, but just said that “we have something you really have to see. And touch.”

The invitation also featured a partial picture of a device resembling the iPad.

The third iteration of a device that has helped put pressure on demand for traditional laptops and computers is expected to boast a faster, quad-core processor and a higher-definition screen.

Apple has sold more than 55 million iPads, generating at least $34.5 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.

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