Technology giant, Apple might be planning to release the third generation of its tablet computer on Wednesday.

According to the clicks of the invitation to a major media event and the usually timing for the Apple product launch cycle, the third generation, rumored to be named the `iPad 3' will be launched on Wednesday at the Yerba Buena Center for the Arts in San Francisco.

Gartner analyst Michael Gartenberg has said that the indications are that the company will launch the new version of its tablet computer at the event. The iPad 3 might be launched in March with 4G LTE connectivity and will feature a faster processor and a higher resolution touch screen.

The new version of the tablet will feature a more impressive screen and offer faster video graphics and Long Term Evolutionary (4G) capabilities and others. Sources said that iPad 3 is very similar to the earlier version except it is slightly thicker than iPad 2.

The iPad 3 is expected to have the same price tag as the iPad 2 as Apple usually launched the new version at the same price and then reduces the price of the earlier version.