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Apple launching iPad 2 on March 11

Apple has confirmed the long-rumored iPad 2, unveiling it during a press event in San Francisco.

The revamped tablet will ship on March 11, and features a lighter, thinner frame, two cameras, HDMI video output and access to video chat FaceTime.

The device starts at $499 for the 16GB. To recap today's Apple event, follow our live coverage below.

2:18 p.m.: "I'm blown away with this stuff," Jobs says of the Smart Instruments. GarageBand for iPad will sell for $4.99 on March 11.

Jobs wraps up: "It's in Apple's DNA that technology alone is not enough. It's technology married with liberal arts, married with the humanities that yields the results that makes our hearts sing. And nowhere is that more true in these post PC devices."

2:14 p.m.: Jobs is back on stage now to introduce two more apps. "We like to do applications because it gives us feedback on what it's like to be an app developer to make the system better and better," Jobs says.

First is iMovie for the iPad. It features a precision editor, multi-track audio recording, new themes and you can AirPlay video right to Apple TV. The iMovie app is $4.99 and will be available on March 11.

Next up is GarageBand for iPad. It's got touch instruments. It also sports guitar amps and effects, 8-track recording and mixing, over 250 loops and more. It's also compatible with the Mac version.

First thing you see is an insturment browser that turns iPad into a muscical instrument. He is demonstrating a Grand Piano keyboard. It's got a Sustain button, so a note can sound different when you tap it soft or tap it hard. The iPad accelerometer can measure the force that your finger strikes the display. It's used throughout the app to make instruments expressive. Virtual drum kits are also included, and can detect how hard you tap the drum.

There's also something called Smart Instruments that are designed for people who've never played a note in their life. For example, the Smart Guitar shows notes and picks chords for you.

1:57 p.m.: For the readers that have been asking, there is no resident USB port, according to a breakdown of specs on Apple's website.

1:44 p.m.: Scott Forstall, senior vice president of iOs software, is on stage to talk about the new iOS 4.3, which will include improved performance for the Safari browser and iTunes Home Sharing, which lets you get at your music, movies and TV shows stored on iTunes on a computer directly from your iOS devices.

Also, iPhone 4 customers will get personal hotspots, allowing them to share their iPhone 3G connection over Wi-Fi to other devices.

Now that the iPad includes cameras, Apple is adding Photo Booth and the FaceTime video chat. Users can FaceTime between two iPads, between an iPad and iPhone or iPod Touch and iPad and a Mac.

1:37 p.m.: Among the accessories: an HDMI video-out cable. It gives HDMI mirrored video output, exactly what you see on the iPad is what you see on the screen at up to 1080p, Jobs says. It costs $39.

Even more popular, Jobs says, is something called Smart Covers, which bend and fold around so you can tilt it to watch movies. It automatically wakes up the iPad from sleep when you open it and put it to sleep when you close it.

How does it stay on? They use magnets to grasp so it's always in perfect alignment. It adds minimal weight and thickness and has a micro-fiber lining that cleans the screen, Jobs says. The cases come in 5 polyurethane covers and 5 colors of leather. They cost $39 for polyurethane or leather cases for $69.

1:30 p.m.: It's also lighter, dropping from 1.5 pounds to 1.3 pounds.

It comes in black and white and both will launch at the same time. "You can pick this up, it almost floats," Jobs says.

Models of the iPad 2 that work with both AT&T and Verizon Wireless will be ready on day one.

The iPad 2 will also maintain the same battery life -- about 10 hours -- as the first iPad, and up to a month of standby. Also preserved is the $499 price for a 16GB, same when the first iPad launched.

Wi-Fi iPads at 16GB, 32GB and 64G are $499, $599 and $699 respectively. It ships on March 11.

1:25 p.m.: "We've gotten off to an exceptional first year and would like to build on that," Jobs says. "What about 2011? Everybody's got a tablet. 2011: Year of the copycats?"

Jobs then unveils the iPad 2, featuring a new design and "dramatically faster" speeds, says Jobs. It has a new A5 chip, dual-core processors and a CPU up to two times faster. It also has two cameras: one front- and one rear-facing. There's also a built-in gyroscope, similar to the iPhone and iPod Touch.

Having built in all of this stuff, Jobs says, one of the most startling things about the iPad 2 is that it's 33% thinner.

1:13 p.m.: The iPad generated $9.5 billion last year and maintains over 90% of the market share, says Jobs.

1:12 p.m.: Jobs says he's here to talk about "Apple's third post PC blockbuster" (behind iPod, iPhone and iPad). Jobs says Apple sold 15 million iPads in 2010.

1:08 p.m.: Jobs says Apple has paid $2 billion to developers for selling apps in their App Store. The Apple CEO also revealed the company just shipped their 100-millionth iPhone.

1:06 p.m.: "We've been working on this product for a while and I didn't want to miss it," Jobs says before discussing iBooks. 100 million books have been downloaded since launch.

Update at 1:04 p.m.: Steve Jobs just walked onto the stage to a standing ovation. The event is under way.

Update at 1:01 p.m. ET: We're sitting here waiting for what everyone expects to be the unveiling of the iPad 2. The event is scheduled to start shortly.

The Beatles Ticket To Ride is playing on the soundtrack. A number of Apple execs are standing in front of the stage including Phil Schiller, Tim Cook, and Eddy Cue. It's unclear which Apple exec will go on stage during this event. Might Steve Jobs even show? There has been some speculation he might but it's by no means a sure thing.

Other than an appearance (or not) by Jobs, the question is what will Apple actually have to say product-wise. The expected iPad 2 will almost certainly include at least one, probably two cameras. And maybe a faster processor.

But what will Apple do with the software? What will Apple do with its consumer-oriented MobileMe cloud service? We'll start to get some answers in a few minutes.

Our original post

Apple is hosting an event in San Francisco on Wednesday, where the company is expected to unveil the second-generation iPad tablet.

What can gadget gurus expect? USA TODAY's Ed Baig is in San Francisco and will file updates from Apple's event as they happen.

The event kicks off at 1 p.m. ET.

By Ed Baig and Brett Molina

See photos of: Apple