iPad Air (AAPL): New iPad unveiled ahead of holidays at Apple event, will ship November 1

(CNN) -- Thinner. Lighter. Faster. That's what Apple promises in its newest iPad, which also has a new name: the iPad Air.

The company on Tuesday rolled out the fifth generation of its market-leading tablet. Among its new features, the new iPad will weigh 1 pound, down from 1.4 pounds, and is fractions of an inch thinner and narrower.

It will have the same 9.7-inch screen as previous iPads and pack the same A7 processing chip that's in the iPhone 5S. That will make it 72 times faster than the original iPad, according to Apple senior vice president Phil Schiller.

"This is our biggest leap forward ever with a full-size iPad," Schiller said.

The iPad Air will go on sale Nov. 1. Prices will start at $499 for a 16GB, Wi-Fi-only model and go up to $629 for a 16 GB with 4G LTE connectivity.

PHOTOS: Apple unveils lighter iPad, other products http://bit.ly/1612rWQ

Schiller also announced an iPad Mini starting at $399. It will be available later in November, starting at $399, and will now have the same high-resolution "Retina display" as bigger iPads.

Apple took another new direction on Tuesday, announcing that the newest version of its Mac operating system, OS X Mavericks, is available now for download and will be free.

Selling Mac software has never been a huge money-maker for Apple and the price of new OS X upgrades had been dropping in the past few years. The move can be seen as a shot at Microsoft, which relies more heavily on revenue from sales of Windows.

New MacBook Pro and MacBook Air laptops also were rolled out. And the super-powerful Mac Pro, the desktop computer geared toward high-end graphics and video editing, finally got a price point -- $2,999 -- and will be released before the end of this year, according to Apple's Phil Schiller.

The Pro was designed in California and assembled in the U.S. across 20 states. The pieces are likely manufactured out of the country and shipped here for the building stage.

Apple's not the only tablet manufacturer announcing news this week. Microsoft is releasing the latest versions of its Surface tablets, and Nokia got into the game with own Windows 8 device, the Lumia 2520, earlier Tuesday.

But as rivals catch up to the once-dominant iPad and the marketplace gets flooded with new tablets, it's getting harder for competitors to set themselves apart.

"Tablets are a maturing market; there's not much competitors can do to differentiate at this point." said Sarah Rotman Epps, a senior analyst at Forrester Research."Replacement sales are growing much, much faster than new sales worldwide," she added. "You're competing for customers you already have."

At Tuesday's event, Cook took a swipe at competitors with a reference that seemed most aimed at Microsoft's hybrid Surface tablets.

"They chased after netbooks," he said. "Now they're trying to make PCs into tablets and tablets into PCs."

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WEB EXTRA REPORTED BY JENN STRATHMAN:

The price you can get for your old iPad will drop as a flood of new tablets hits the streets.  

There are multiple options for trading it in, but you'll need to shop around to get your best deal.

We used the example of an iPad 2with 16GB.  But you can use the links provided to type in the iPad

Trading it back into Apple ( http://store.apple.com/us/browse/reuse_and_recycle )  would get you the least amount of money back.  Apple's website says it would give us $141 for the iPad 2.

Amazon's ( http://www.amazon.com/Trade-In/b?node=2242532011 ) trade in would be $195.

GameStop ( http://www.gamestop.com/recommerce/web/ChooseDevice.aspx?manufacturer=Apple&family=iPad ) offers an in-store credit of $213.

The website selloldipad.com ( http://www.ecyclebest.com/ipad ) offers nearly $300 for the same iPad.

Some sellers go the EBay route.  While you can set your price, you have to be patient and hope you get a buyer.

Newer iPads will get you more money.  In all cases, the condition and the memory will factor in what you can get for it.


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