UPDATE (WKOW) -- Apple will sell its newly unveiled tablet-style iPad starting at $499.
The iPad resembles an iPhone, but larger. Apple will sell some iPad models with data plans from AT&T, with no contract required.
CEO Steve Jobs says the iPad will be better for reading books, playing games and watching video than either a laptop or a smart phone.
The initial price is likely to drop. Apple sold the first iPhone for $599 but slashed the price to $399 after a few months, upsetting early buyers.
UPDATE (WKOW) -- Apple CEO Steve Jobs introduced the iPad as the company's "latest creation," saying the tablet-style device is more intimate than a laptop.
Jobs made the appearance Wednesday in his trademark jeans and black turtleneck and opened with a history and update on Apple mobile devices.
No price or information on availability was immediately announced.
Analysts say a tablet-style computer can help people watch videos, surf the Web, play games and read electronic books.
But that means Apple would have to show why consumers ought to pay for yet another Internet-connected screen, on top of the TVs, computers and smart phones they already have. Tablet computers have existed for a decade, with little success.
SAN FRANCISCO, CA (WKOW) -- It'll be thin, wireless and cool. It might reinvent publishing and do for newspapers and magazines what the iPod did for music. Or it might do something entirely different. No one really knows.
It is certain that Apple head Steve Jobs has created a marketing home run in anticipation of a major Apple announcement expected Wednesday at 12:00 noon CST.
There are some clues: tech analysts predict Apple will reveal a thin slab with a roughly 10-inch multi-touch screen -- like an iPhone or iPod Touch but larger. Experts say it will likely be billed as a way to watch videos, surf the Web, play games and read electronic books.
And in an interview earlier this week, textbook company McGraw Hill said they were working with Apple to integrate their content with the new Apple product.