Alright folks, all of us have been bombarded with speculations about the upcoming iPad refresh and now the official word has come down. The iPad 2 as it’s being officially called, will feature an entirely new design that’s 33% thinner and 15% lighter than the original and features a 9.7-inch back-lit capacitive touchscreen, 1GHz dual-core A5 chip and cameras on both the front and the rear of the unit. There’s also 720p HD recording on tap, with an HDMI connector provided for 1080p output. The iPad 2 will ship on 11th of March in the US, and prices will start from $499. Again, there’s no word on when this marvel of technology will hit our shores, and considering the original iPad only became official December of last year, we’d venture to say it’d be a while. There’s a bunch of videos of the device being demoed on Engadget, so head on over to the source links below to see it in action.