March 2, 2011

Apple will unveil its iPad 2 (perhaps with that name, perhaps not) at 1 p.m. ET today, and the tech blogs will be out in force with live coverage.

Almost 15 million iPads have been sold since last spring. But the device’s first real competition, the Android 3.0-powered Motorola Xoom, was only released on Feb. 24.

The Xoom, with two built-in cameras, support for Adobe Flash, USB 2.0 and HDMI ports and a 10.1 inch screen, has features equal to or better than the first-generation iPad. But the Motorola tablet, which comes standard with 3G connectivity, costs $600 with a two-year Verizon contract and $800 without a contract. By comparison, the base-model Wi-Fi iPad costs $500.

So the question of the day is, what new features will Apple roll into the iPad 2, and how much will it cost?

MocoNews.net speculates that it will be thinner, faster and “all-seeing”:

Faster: …Dual-core processors are prominently featured on new Android tablets such as Motorola’s Xoom and planned for HP’s TouchPad, so it’s likely that Apple, also an ARM-architecture licensee, is ready to follow suit. The upshot of a dual-core processor is easy to understand: better graphics, better application performance, and better opportunities for developers and content creators to come up with ideas that weren’t possible given the performance envelope of the first iPad.

All-seeing: …Expect to see at least a front facing camera on the iPad 2 along with the video chat software introduced last year. A rear-facing camera is less certain, but as with the faster processor, cameras give developers new ways to incorporate outside cues into their apps, such as new ways to think about augmented reality applications.”

There is no shortage of sites to watch the announcement:

If you’re new to Mobile Media, here are a few of our most popular previous posts about the iPad:

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