On Wednesday morning, Apple finally held its long awaited press conference to officially announce the new iPad.

The company touched on the tablet’s specs, as well as the major features that will come with the 3rd generation device. Among the highlights, was the expected upgrade to the tablet’s screen, as it will feature a retina display (2048 x 1536), which translates to four times more pixels than the iPad 2, while retaining its 9.7-inch display.

Gaming is obviously a big focus for Apple with the iPad and the inclusion of the new A5X graphics chip only reiterates that. The quad-core graphics processor aims to make the iPad more responsive and smoother, while being able to handle photo/video editing, video games and web browsing more easily. Though the tablet has an upgraded processor and higher resolution, battery life remains approximately the same as the iPad 2 – up to 10 hours of functionality.

The iPad now includes a new iSight, 5-megapixel, rear-facing camera that has an illumination sensor for snapping photos in any lighting conditions. The camera also features auto-focus, automatic face detection (for up to 10 faces) and takes full 1080p HD video. The camera has an f/2.4 aperture and uses a hybrid infrared filter for more accurate colors.

While the iPad and iPad 2 included 3G for internet on the go, the new iPad will make use of 4G LTE for faster speeds via Verizon and AT&T. The new iPad will also be able to serve as a mobile hotspot (assuming your data plan offers it), for connecting up to 5 other devices.

Many folks were hoping for Siri to come to the iPad, which unfortunately was not the case, but the new iPad will feature Dictation, which will let users talk to the iPad to write email, send a text, take notes or browse online. Essentially it’ll work the same way Siri does for writing stuff down, but will be limited to just that.

Prices for the new iPad, which will be available in black and white, are as follows:

• iPad Wi-Fi (16GB) – $499
• iPad Wi-Fi (32GB) – $599
• iPad Wi-Fi (64GB) – $699
• iPad 4G/Wi-Fi (16GB) – $629
• iPad 4G/Wi-Fi (32GB) – $729
• iPad 4G/Wi-Fi (64GB) – $829

For additional specs, you can check http://www.apple.com/ipad/specs/.

Apple is already taking pre-orders via their website and the official release date is set for March 16.