New iPad to launch in NZ on March 25

Uber-tablet features quad-core chip and HD 'retina' display

Local Apple enthusiasts will have to wait more than two weeks to get their hands on a shiny new iPad, which was announced in San Francisco this morning.

Meanwhile the price of an iPad 2 has been reduced, it now starts at $579 (the previous price for the most basic model was $799).

The new iPad will feature a quad-core A5X processor chip, high-definition "retina" display, and will work on faster 4G cellular networks as well as the 3G networks that operate in New Zealand. It also will have a new iSight 5MP camera on the back, as well as the ability to record 1080p high-definition video.

The new iPad's battery will feature a 10 hour life - or 9 hours on 4G - before it needs to be charged, Apple says.

The iPad will go on sale in the US on March 16 with prices starting at around US$499. The New Zealand launch date is March 25, but local pricing has yet to be confirmed.

This is a developing story. Click here to check for updates.