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Apple has labelled the iPad 2 as slimmer, lighter and faster than its predecessor.

The new device, which is 33 per cent thinner - at just 8.8mm, boasts the company's latest dual core A5 processor, which, it is claimed, delivers double the processing power of the original iPad.

The iPad 2 also features front- and rear-facing cameras, a gyroscope and comes in black and white versions but the battery life is identical to that of its predecessor and there is over one month of standby before it needs to be recharged.
The event was hosted by Apple chief executive Steve Jobs, who has been on medical leave since January.

"We've been working on this product for a while, and I didn't want to miss today," Jobs said, opening the iPad announcement event, after receiving a standing ovation from the Apple-centric press in attendance. "We've got something great to announce for today."

Mr Jobs said: 'We're here to talk about Apple's third post-PC blockbuster product.

'That's how we think about these things. We started with the iPod, then we added the iPhone, and then the iPad. Every one has been a blockbuster.

Mr Jobs said: 'What is iPad 2. What have we learned? It is an all new design. It's a completely new design. And it's dramatically faster.'
The device comes preloaded with a new app called Photo Booth, which allows users to take distorted photos of themselves and share them with friends. And users will also be able to use the iPad 2 to video call friends who have either an iPad 2, an iPhone 4 or the latest iPod Touch, using Apple Facetime.

Apple also formally announced iOS 4.3, the version of the OS that runs on the iPad 2 and will soon power iPod touches and iPhones as well. In addition, the company showed off a few iPad 2 accessories, including an HDMI video-out add-on and a magnetic cover.

Jobs announced that Apple sold 15 million of the original iPads during 2010 and that he hoped 2011 would be “the year of the iPad 2”, in spite of the many more tablet devices coming on to the market.

Apple iPads possessed 95% of tablet computer sales up to September 2010, according to research firm Strategy Analytics.

It then fell to 75% by the end of the year; brought down by the arrival of scores of new tablet devices, mainly based on Google's open-source Android system.

Other platforms have also begun to appear, including Microsoft's Windows 7 and HP's WebOS.

iPad 2 will go on sale in the US on 11 March and on 25 March.in the UK and the pricing will remain the same as for the first iPad, between £305 £505.