Apple has invited the press for a special event on March 7th in San Francisco which likely marks the announcement of the Apple iPad 3 along with the release of iOS 5.1.Currently there is no solid evidence on the next iPad. Strong reports point toward a retina level display with a resolution of 2048x1536 pixels on a 9.7 inch display, updated cameras, LTE connectivity and powered by an updated processor.
Previous rumours also suspected a smaller iPad joining Apple's tablet portfolio. This device was meant to compete with the Amazon Kindle Fire, which has started stealing away Apple's customer's with it's $199 price tag.
While initial reports pointed towards Apple using the A6 processor on the iPad 3, it looks like an A5x processor may be onboard retaining a dual-core processor with updated graphics to support the higher resolution. There are also reports of an improved cameras with a 720p HD camera in front for facetime calls.
In any case, all these are rumours until Apple finally unveils their next generation iPad. You can join us here at 10AM PST on March 7th and we will bring you live coverage as the announcement is made.