It is now official that Apple introduced a new iPad release. The company revealed yesterday at their fall event that they are selling the all new generation of iPads.

The newest addition to their line of tablets is the lighter iPad Air and the iPad mini revamped with an ultra clear retina display screen.

The thinner, lighter and faster iPad amazed everyone at the event, front lined by an A7 processor chip which is found in the new iPhone 5s. Despite having a slimmer and smaller tablet, the iPad Air still has the features of a full-size 9.7 inch screen also seen in previous generation models. It is now 7.5mm thin, 20% thinner than the iPad 4, and weighs just about a pound. The company claims that this is the lightest full-sized tablet in the market today.

On the other hand, the iPad mini got an upgrade as well by having what consumers expected on the first release - a retina screen display. In line with this, the newest smaller version of the new tablet is also equipped with the latest A7 chip.

Both tablets carry a new MIMO technology which boosts Wi-Fi and cellular data capability.

"This is our biggest leap forward ever with a full-size iPad," Apple Senior Vice President Phil Schiller said.

The older generation iPad mini and the iPad 4's will still be on the market and are now $100 cheaper thanks to the new releases.

"Market share slip is inevitable because so many rival devices are coming out, which is not necessarily a bad thing as the overall sector is growing. Apple does now have a cheaper model thanks to [the new releases] offering the original iPad Mini at a lower price - but the firm doesn't really want to go to the low-end because that's not where the greatest profit is extracted." Tony Cripps, Principal Analyst at Ovum told BBC.

The new line of iPads will be available on November 1.