Production begins for iPad 3 with LTE, quad-core processor, Retina display

Bloomberg reports that Apple’s third generation iPad is now in production and set for a March launch later this year. The report says that the next iPad will have a “high-definition” screen, quad-core processor and run on LTE networks.б═

Apple Inc. (AAPL)Б─≥s next iPad, expected to go on sale in March, will sport a high-definition screen, run a faster processor and work with next-generation wireless networks, according to three people familiar with the product.

The report from Bloomberg says that the iPad 3, that’s what we’ll call it for now, will have a high-defiintion display which will most likely turn out to be a display Apple will call “retina.” The addition of LTE would be a first for Apple as even the iPhone 4S won’t run on an LTE network. LTE offers much faster download speeds from carriers than 3G does but also uses more power to do so. According to the report Apple will put LTE in the iPad 3 before the next iPhone since the iPad has a battery that is much bigger and can offer better power support.б═

The report does not note whether or not the iPad 3 will have a new design from the iPad 2.

Bloomberg says that production of the iPad 3 began earlier this month and that factories in Asia will reach peak volume in February. Apple is using one of its regular manufacturing plants Foxconn, the same company that manufactures Apple’s iPhones, to build and assemble the iPad 3.