Apple has just announced its fifth generation iPad, the iPad Air.

The iPad Air is thinner and lighter than its predecessor. A smaller bezel has resulted in a 20 per cent thinner (7.5mm) and 28 per cent lighter (469g) design overall.

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Apple calls it "the lightest full-size tablet in the world". It looks like a larger iPad mini, and has the same bezel, chamfered edges and curved corners as that model.

The iPad Air will be available in two colours: silver & white, and space grey & black.

The iPad Air is powered by Apple's new 64-bit A7 processor, and also has an M7 motion co-processor.

Apple says it offers up to twice the CPU and graphics performance compared to the previous 4th Generation iPad.

The iPad Air retains the same retina display as its predecessor, but Apple has upgraded both the rear and front cameras.

The rear iSight camera has a 5-megapixel lens, dual microphones and records 1080p video, while the front-facing FaceTime HD camera has a 1.2-megapixel sensor and can record 720p HD video.

The iPad Air retains a 10-hour battery life.

The Apple iPad Air will be available to purchase in Australia from Friday, 1 November.

It will be available in a total of eight variants -- 16GB, 32GB, 64GB and 128GB models in Wi-Fi-only and Wi-Fi+LTE configurations. Pricing is listed below.

iPad Air 16GB Wi-Fi -- $598iPad Air 32GB Wi-Fi -- $699iPad Air 64GB Wi-Fi -- $799iPad Air 128GB Wi-Fi -- $899

iPad Air 16GB Wi-Fi + 4G -- $749iPad Air 32GB Wi-Fi + 4G -- $849iPad Air 64GB Wi-Fi + 4G -- $949iPad Air 128GB Wi-Fi + 4G -- $1049