Technology giant, Apple has claimed that it has already sold its pre-order stock of the third generation iPad tablet computer.

Apple spokesperson Trudy Miller claimed that re-order volume for the new iPad has been "off the charts" and the stock for pre-orders has already been exhausted. According to the official website, any pre-order placed now will be shipped by March 19, three days after the company will rollout the device in stores.

The iPad's Display comes with a 2048 x 1536 resolution with 3.1 million pixels and boasts 44 percent greater color saturation than the earlier version of the tablet. The latest version of the tablet computer, which will come with a starting price range of $629, will allow users to access, record and edit high definition video.

The tablet will feature a more impressive screen and offer faster video graphics and Long Term Evolutionary (4G) capabilities and others. A cheaper iPad 2 will pose a stiff competition other tablet makers in the market like Amazon and Samsung. The move will undercut manufactures that are trying to compete with Apple on the basis of lower prices.