Recap at 2:57: Apple CEO Steve Jobs emerged from medical leave to introduce the new iPad 2. This post was updated as details came out at the event unveiling the new tablet.
Updated at 2:50: The Apple Store is back online, featuring the new lineup of iPads. In addition to the new tablets, Apple also introduce "Smart Covers" for the device, which are thin covers that use magnets to align themselves on the iPad. Pulling back a sheet of fabric or leather wakes the iPad up; closing the sheet puts it to sleep.
First, in conjunction with Apple, News Corp. founder Rupert Murdoch launched a news app called The Daily that publishes exclusively on the iPad.
"New times demand new journalism," Murdoch said to reporters at Manhattan's Guggenheim Museum. "Our challenge was to take the best of traditional journalism — competitive shoe-leather reporting, good editing, a skeptical eye and combine it with the best of contemporary technology."
Tablet computer shipments more than doubled in the fourth quarter. But while holiday sales were strong for the product, the news wasn't quite so jolly for Apple. According to researcher Strategy Analytics, Apple's iPad went from 96 percent of market share to 75 percent. Tablets based on Google's Android operating system gained ground.
Apple CEO Steve Jobs is taking another medical leave of absence. Jobs said he'll continue to be involved with major strategic decisions. Day to day running of the company will be left to Chief Operating Officer Tim Cook, a longtime Apple executive who's been at Jobs side during the roll-out of some of the company's most successful product launches.