According to reports circulating on the internet, Apple might be planning to release the third generation of its tablet computer on Wednesday and the tablet is likely to be called, `iPad HD', instead of much rumored iPad 3.

The iPad HD is expected to be launched on Wednesday at the Yerba Buena Center for the Arts in San Francisco, according to indications from the clicks of the invitation to a major media event and the usual timing for the Apple product launch cycle.

The third generation of the tablet might be launched on Wednesday with Long Term Evolutionary (4G) connectivity and will feature a faster processor and a higher resolution touch screen. The new version of the tablet will feature a 2048 x 1536 pixel resolution display and offer faster video graphics. Sources said that iPad 3 is very similar to the earlier version except it is slightly thicker than iPad 2.

The iPad 3 is expected to have the same price tag as the iPad 2 as Apple usually launched the new version at the same price and then reduces the price of the earlier version.