Apple is expected to unveil the next generation iPad at a news conference in San Francisco next week. See here a video report from Newsy:

Embedded Video Source by Newsy.com

Transcript by Newsy

BY GILLIAN STEDMAN

ANCHOR ZACH TOOMBS

It seems the rumors are true. The release of the next generation iPad draws near. Apple sent out invitations Tuesday to what appears to be the iPad3’s unveiling. CNBC has more…

“Just got my invitation in my inbox moments ago. It says: ‘We have something you really have to see and touch.’ It is clearly an iPad event. It’s in San Francisco, next Wednesday, March 7th.”

The iPad2 was 33 percent thinner and twice as fast as the original, so fans are expecting great things from this new model. According to CNN…

“Reports claim the iPad will come with a faster processor, a better camera, the Siri voice assistant and the ability to run on 4G cell networks.”

Despite Apple’s high iPad sales this year, the BBC reports competition in the tablet market is heating up.

“Recently Apple’s dominant position in the tablet market has been challenged by a string of tablets powered by Google’s Android operating system. Later this year, industry experts expect a new category of tablet devices powered by Microsoft’s forthcoming Windows 8 operating system.”

But CNET says — even with competition, don’t expect the iPad3 to be any cheaper…

“Yes, the competition has shown that there’s room for a low-cost tablet like the Kindle Fire, but going low-end has never been Apple’s strategy. Besides, Apple still dominates the tablet market and needn’t change what’s been working.”

It’s unclear when the new iPad will be on sale.  But tech bloggers predict the launch will reflect past trends.  Last year, sales for the iPad2 began in the US nine days after the launch announcement – so it would seem the waiting is nearly over.

Transcript by Newsy.

Apple today announced it will host an event March 7, when it will likely unveil the next iPad. (Image: Apple.)

(Image source: apple)

Sources: CNBCYouTubeCNN MoneyBBCCNET