The tech giant is focussing on education in schools and announced that their latest product has some education-focused software installed, but only has 32GB of storage, according to the new announcement at the event at Lane Tech College Prep high school, Chicago.
Apple employee Tim Cook said: "At Apple we care deeply about education because we love kids and we love teachers.
"We had a unique insight into how technology could inspire kids to unleash their creative genius.
"And we believed that technology could help teachers deliver a unique and personalised learning experience to all kids. We've never stopped believe this, and we've never stopped working on it.
"We know our products can help bring out the creative genius in every kid."
The new iPad features an A10 chip and a 10 hour battery with an 8MP camera, 1080P HD video, up to 300 mbps LTE, compass, GPS and weighs only one pound.
It will cost around $329/£319 for the 32GB with Wi-Fi model.
Recently the mobile phone company revealed they are developing a new product with the capability to bend in the middle, according to a top expert, and the phone is nearly ready to launch, the Sun Online reported.
Apple first released their popular iPhone back in 2007 and over the years, the development of the needed technology hasn't really changed much - with phone makers sticking to the slim, rectangular design.
But now Wamsi Mohan, analyst at top Wall Street firm Bank of America Merrill Lynch, believes the tech giant is changing the way mobile phones are made.
Wamsi said: "Our checks also suggest that Apple is working with suppliers on a foldable phone."