Apple earlier today sent out media invites for iPad 3 launch event which will be held on March 7th, Wednesday in San Francisco. The third-gen iPad will be unveiled at a keynote event at the Yerba Buena Center for the Arts at 10 a.m Pacific and 1 p.m Eastern time.

Last week we highlighted a report which suggested that Apple was planning a media event in first week of March and today the Cupertino, Calif. based company officially confirmed the event date. The invite sent out to media has image of an iPad with  Maps, Calendar and Keynote apps showing on the dock and the text reads “We have something you really have to see. And touch.”

Apple brought Retina Display to iOS devices with introduction of iPhone 4 and then it made its way to fourth-gen iPod touch. According to various rumors and speculation we’ve reported in the past, iPad 3 is widely expected to feature Retina Display with a resolution of 2,048 by 1,536 pixels and include a faster processor. While most evidences revealed in the past confirm the inclusion of Retina Display it’s still unclear if Apple will use a quad-core chip or a dual-core chip with enhanced graphics.

In addition to an improved display iPad 3 is also expected to feature better rear camera for taking photos however the front-facing camera might not receive any update. It is believed that in order to feature the high resolution display and better camera the iPad 3 might be thicker than iPad 2.

Apple is known to introduce complete product re-design every alternate year so iPad 3 is expected to retain the same design as iPad 2. The company could also introduce new Apple TV with “A5X” chip that could deliver 1080p content to your HD television.

Are you excited about iPad 3 launch event? What are your expectations from the event? Let us know your thoughts in the comments below.