Days before Microsoft launches a much anticipated new tablet, Apple released new versions of its iPad, including one that's smaller and as thin as pencil. The question for Apple, which has sold an average of 110,000 iPads a day since first launching its tablet in April 2010, is can it keep up demand for the product in the face of new comeptitors?

The fourth-generation iPad has the same battery life as the third version, but comes with a stronger wi-fi card, a faster computer and more impressive graphics processor. The front-camera also received a small upgrade. The iPad 4 also now comes with Apple's new lightning connector, which mean users with old accessories have to buy new adapters and connectors.

The prices will remain the same: $499 for the basic version and $629 for the 3G version.

The 9.7-inch-diagonal iPad is joined by a 7.9-inch-diagonal iPad Mini. All apps should work fine on the mini version since the two devices share the same screen resolution. The mini will cost $329 minimum.

Apple's event on Tuesday featured the launch of thinner and faster Macbooks and iMacs too.

Pre-orders for both devices can be made starting Friday, with the first wi-fi versions being shipped the following Friday.

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