By Michael Oleaga / m.oleaga@latinospost.com (staff@latinospost.com) | First Posted: Oct 22, 2013 02:20 PM EDT

Apple has officially introduced the fifth-generation 9.7-inch iPad tablet during the company's Oct. 22 special event.

Apple CEO Tim Cook stated the iPad, overall, was introduced as the most advanced in a magical and revolutionary device.

According to Cook, the iPad is used four times more than any competitive tablet in the market. In addition, the Apple CEO revealed the iPad tablet sold approximately 170 million units.

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With the iPad facts noted, Cook confirmed the iPad 5 shortly after 2 p.m. EST, the second hour of the Apple Special Event from Yerba Buena Center for the Arts in San Francisco, Calif.

Cook introduced Apple Senior Vice President of Worldwide Marketing Philip Schiller to formally introduce the next tablet.

iPad Air is officially the new 9.7-inch Retina Display tablet.

With a 43 percent smaller bezel and 20 percent thinner than the iPad 4, the iPad Air weighs one pound, which is the lightest full-sized tablet in the world.

The iPad Air utilizes the 64-bit A7 chip, which is the same used in the iPhone 5s. The M7 motion coprocessor is also equipped in the new 9.7-inch tablet. In comparison to the original iPad, the iPad Air runs 8-times as fast.

When it comes to camera specifications, the iPad Air has a rear-facing camera with 5 megapixels and 1080p HD video. The tablet also sports dual microphones.

The battery life for the iPad Air can last up to 10 hours.

For prices, the 16GB iPad Air for $499, the 32GB model is priced at $599, $699 for the 64GB model, and $799 for the 128GB variant. With cellular data, the 16GB model cost $629, 32GB model is priced at $729, $829 for the 64GB, and $929 for the 128GB variant.

The iPad Air is set to launch worldwide on Nov. 1 in Australia, Austria, Belgium, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Ireland, Italy, Japan, Latvia, Lichtenstein, Lithuania, Luxemburg, Macedonia, Montenegro, Netherlands, Norway, Poland, Portugal, Puerto Rico, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and United States.

"iPad created an entirely new mobile computing experience, and the new iPad Air is another big leap ahead. It is so thin, light and powerful, once you hold one in your hand you will understand what a tremendous advancement this is," said Schiller.

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