Apple Releases iPad, But Price Could Keep It From Being Competitive

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Apple on Wednesday made its highly-anticipated announcement, launching the new iPad.

Calling it a "truly magical and revolutionary product," Apple CEO Steve Jobs unveiled the company's newest product.

The new tablet personal computer, it looks like an iPhone or an iPod Touch, but it is larger and offers everything from applications, videos, games and an electronic book reader, 10TV's Andy Hirsch reported.

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With a 10-inch screen, and nearly life-size keyboard, the iPad is more than a phone and more intimate than a laptop, Jobs said, but not all tech lovers are convinced, Hirsch reported.

"I don't see how that is any different than what is already out there," said IT worker Tom Kaczorowski.

Apple will likely have some tough - and less expensive - competition for electronic book readers, Hirsch reported.

The iPad starts at $500, but other retailers, including Barnes and Noble and Amazon offer cheaper alternatives. If you add memory or other capabilities, the price climbs to more $800, Hirsch reported.

Apple has made a deal with publishers to offer iBooks, Hirsch reported.

"I think that Apple may be overstating the impact of this new  tablet," Kaczorowski said.

The iPad gives users access to iBooks, Apple's book store that is similar to iTunes, and has deals to offer books from several publishers including Penguin, Simon and Schuster, and Harper Collins.

The battery will last about 10 hours, Apple said and the company has 140,000 applications available to be downloaded. 

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