The first two versions of the iPad have dominated the market and seen off a host rivals including the Playbook from Blackberry maker RIM.
Last month Apple announced it had sold almost 15.5m iPads in the final quarter of 2011.
But Apple now faces competition from Amazon which has its own tablet, the Kindle Fire, in the US and, unlike other companies, is able to offer content to rival iTunes.
So what changes can we expect to the iPad as Apple seeks to maintain its lead?
Predictions include a modified rear case, an improved 8 megapixel camera and a higher resolution screen to match the ‘Retina display’ on the iPhone 4 and iPhone 4S.
There are also rumours that the improved display could see the new model named the iPad HD instead of iPad 3.
A new, more powerful processor is also widely expected and it’s a near certainty that Siri, Apple’s speaking personal assistant will also be coming to the iPad.
Plus, as always, mumblings of a smaller, cheaper 7” model persist.
There’s also speculation that Apple may keep the existing iPad 2 on sale to provide a lower cost option, just as it has the iPhone 3Gs and iPhone 4.
We’ll find out for sure in early March.
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