Apple Inc. took the wraps off a new iPad tablet with a sharper display and the ability to connect to the Internet on 4G broadband networks, as the electronics giant strives to stay ahead of rivals in a market it has helped create.

Apple Chief Executive Tim Cook took the stage Wednesday in San Francisco to demonstrate the new product at an invitation-only event. "In many ways the iPad is reinventing portable computing, and it's outstripping the wildest of predictions," Mr. Cook told the audience.

The new iPad will have a high-resolution "retina" display and connect to 4G LTE services that are offered by carriers like AT&T Inc. and Verizon Wireless. The tablet will also have a five megapixel camera and a microphone to take dictation.

Apple said the new iPad will start at $499 for Wi-Fi only models—the same starting price as the previous model. Models capable of 4G speeds will start at $629, not including service plans.

The new iPad will be available starting on March 16 in the U.S., Canada, U.K., France and Germany. Apple also said it will continue to sell the iPad 2, at a reduced starting price of $399.

Full story: WSJ