Good news for people who have been hoping for an inexpensive but full-size Apple iPad. The Cupertino-based tech giant has officially announced the release of a 9.7-inch iPad that will sell for $329.

According to Mac Rumors, Apple has officially unveiled a new iPad. It is said to be more affordable yet with an enhanced display.

Philip Schiller, Apple senior vice president of worldwide marketing stated, "New customers and anyone looking to upgrade will love this new iPad for use at home, in school, and for work, with its gorgeous Retina display, our powerful A9 chip and access to the more than 1.3 million apps designed specifically for it."

Apple's $329 iPad boasts a brighter display (2,048 x 1,536 resolution), with more than 3.1 million pixels designed to enhance the quality of photos and videos. As for construction, it will retain its 9.7-inch screen size, discrete glass panel, and aluminum unibody enclosure.

The newest model will be 9.4 by 6.6 by 0.29 inches, which is slightly bigger and heavier than the 9.7-inch iPad Pro. Its Home button includes a Touch ID fingerprint scanner which is located near the Lightning port.

On the back of the next iPad version will be an 8-megapixel autofocus camera, while the video-conferencing camera has a 1.2 MP resolution.

Meanwhile, inside the iPad itself, Apple has lifted the bulk of the guts from the iPhone 6s. It houses Apple A9 SoC, which incorporates a pair of Apple's "Cyclone" CPU cores and a 6 cluster PowerVR Series7XT GPU. Based on Apple's performance estimates, the device is clocked at or very near the 1.85GHzclock speed of the iPhone 6s.

However, as of now, Apple Newsroom reports that Apple hasn't confirmed the memory capacity. But since the A9 is a PoP design (and all other 9.7" iPads have 2GB of RAM), 2GB is almost certain for the new iPad as well.

The $329 iPad comes with 32GB of built-in storage. A version with 128 GB of capacity will also be available. Dual-band Wi-Fi (802.11a/b/g/n/ac) and Bluetooth 4.2 are in all models, but those willing to pay $130 more can get versions with built-in 4G LTE.

The newest iPad model will be available for pre-order beginning on Friday, March 24, 2017, with an SRP of $329. The most affordable iPad comes in 3 variants: silver, gold, and space gray.

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