Apple to launch iPad 3 in March?

Apple will launch the iPad 3 at an event that will be held the first week of March, according to a report.

Sources told AllThingsD the follow up to the iPad 2 will be revealed during one of Apple's trademark special events, possibly at the Yerba Buena Center for the Arts, in San Francisco, a popular location for past Apple launch events.

Assuming the release schedule for the newer version will follow a similar pattern to the predecessor, sources predict the iPad 3 will be released for retail purchase a week after its rumoured launch date.

The iPad 3 will more or less sport the same physical design and form as the iPad 2, with the changes being made to the interior processes, it has been rumoured.

As for the next generation improvements, the sources say the iPad 3 will have a much faster chip with an improved graphics processing unit, and a 20481536 retina display.

Apple has refused to comment on the specifics of the launch event. An apple spokeswoman said the company does not comment on speculation and rumour.

Last year, the iPad 2 was a huge success in the technology market. Over 55 million iPads have been sold since the launch of the first device in 2010.