Apple has announced the release of its touchscreen tablet computer, dubbed “iPad”, at its launch in San Francisco. It is targeted at consumers who may want to lug it around to watch movies, play music or for book reading. The iPad will support the “ePubs” book reader format, making this device in direct competition with Amazon’s Kindle reader.

The Apple iPad weighs about 1.5 pounds, is 0.5 inch thin, has a 9.7-inch display and has a battery life of 10 hours. It uses Apple’s own 1GHz A4 chip, and flash memory, ranging from 16 to 64 gigabytes. The tablet has YouTube in high-definition built in to the iPad and Apple’s online iTunes Store, which will add an “iBooks” for purchase. The iPad will cost $499 for a 16-gigabyte model, $599 for a 32 GB version and $699 for a 64-gigabyte model with Wi-Fi only, and will be available in 60 days.