Voila!

Casually dressed Apple CEO Tim Cook shows the first photos of the iPad 3, which comes in either black or white. No silver, at least at this time.

The new iPad weighs a bit more and is not quite as thin as both previous versions, but it has much more functionality.

Cook told the audience that according to studies he’s seen, a majority of iPad users prefer to use their tablets for many duties that were previously relegated only to laptops or notebooks: email, document creation, texting and others.

The 5-megapixel camera is only one of the key new features in the iPad 3 display arsenal. It also features a new A5X processor with quad-core graphics.

Schiller demonstrated the performance of the 5-megapixel camera by blowing up a photo, which remained extremely sharp throughout.

An updated version of iPhoto enables users—using gestures and fingers—to do even more to photos then they could previously, including a series of new brushes for photo finishing.

The new, higher-definition display (which Apple calls “Retina Display”) also greatly improves book and document reading. It also features 1080p HD video.

The new iPad 3 will be able to hook up with more types of networks than any previous tablet, of any kind—including the upcoming 4G LTE networks.

The new iPad is a tad thicker and heavier than the iPad 2. The new version is 9.4 millimeters thick, or 0.37 inches. That compares with 8.8 millimeters, or 0.34 inches, for the iPad 2. The weight is going up from 1.33 pounds (600 grams) to 1.4 pounds (640 grams).

In less than two years, Apple’s iPad franchise has marketed and sold nearly 50 million units worldwide, and the company sees no ceiling in sight.

Autodesk and a pair of video gaming companies demonstrated their applications at the launch event, and the demos were indeed impressive—both visually and soundwise. Apple also launched new versions of GarageBand, iPhoto and others. Battery life has been improved to 10 hours of 3G use and 9 hours of 4G use.

These 10 countries will get the first iPad 3s on March 16. Twenty-three other countries will get them a week later.

The new iPad 3 ranges from $499 for a basic 16GB model with WiFi only, to $829 for 64GB of storage and 4G capabilities. All the iPad 2s will drop in price by $100 from now on.