Apple will reportedly unveil iPad 3 in early March

Apple may unveil the next iPad at an event scheduled for the first week of March, AllThingsD reported today.

The company is expected to announce the newest iteration of its blockbuster tablet at its own special event in San Francisco, the report says.

With the next iPad, presumably called iPad 3, Apple will look to sustain the momentum of the first two generations of iPads. The iPad 2, which launched last March. Despite a wave of competitors, Apple continued to maintain a dominant position in the tablet market last year.

But the company faces even more competition this year, particularly from low-cost offerings from the likes of Amazon's Kindle Fire and Asus.

The next iPad will look similar in design to the iPad 2, but run with a faster chip, an improved graphics processor, and better resolution, AllThingsD reported, citing anonymous sources. The tablet could also feature a 2048x1536 Retina Display, bringing its resolution in line with the iPhone 4 and iPhone 4S.

Last year, the iPad 2 went on sale a week after it was announced, and could happen again next month.

An Apple representative wasn't immediately available for comment.