After weeks of intense speculation, Apple has today revealed its "latest creation" as the iPad.
The tablet-like device was unveiled by Apple CEO Steve Jobs who described the iPad as a new category of product that fits in between a traditional notebook and a smartphone.
Hoping to thrive where other similar devices have had little success, Jobs claims the iPad will be better at tasks performed on both smartphones and notebooks - referring specifically to web browsing, email, photos, video, music, games and ebooks.
Featuring a 9.7in IPS capacitive multi-touch display, the iPad measures 0.5in thick and weighs roughly 0.7kg.
Despite widespread speculation of third-party internal hardware, Apple surprised its audience by revealing that the iPad is "powered by our own silicon" - namely a 1GHz Apple A4 chip.
The iPad will be available in capacities ranging from 16GB to 64GB, and carries Wireless N and Bluetooth connectivity, as well as a built-in accelerometer and compass. Apple claims the unit's built-in battery life will facilitate 10 hours of video playback.
At the heart of the iPad's multimedia experience is iTunes - built into the device to offer direct access to Apple's mammoth library of music, movies, TV shows and apps.
Apple - who describes the iPad as "magical and revolutionary" - states that the device will ship in 60 days, with U.S. pricing starting at $499 for a 16GB iPad, rising to $699 for the range-topping 64GB model.
3G models, expected to be available a month later priced at $829 with 64GB of storage, will ship with data plans priced from $14.99 for 250MB of data to $29.99 for unlimited data.
Apple also used the event to unveil iBooks, an e-reader app for the iPad, as well as an iPad-specific version of its iWork office suite and a wave of compatible accessories.