Apple Tablet Details Leaked [UPDATED]

Apple is expected to unveil a new tablet computer today that aims to be just as big a phenomenon as its iconic iPod and iPhone. Like a mix between a full-size laptop and a cellphone, details on the "iPad," as it's presently being called, will be outlined by Apple's Steve Jobs later today - but thanks to a loose-lipped CEO, we've got a few details ahead of time. 

In a morning interview with business channel CNBC, McGraw-Hill CEO Terry McGraw spilled the beans with some details of the tablet's design, the centerpiece of industry speculation and nerd gossip in recent weeks:

CNBC: And briefly, before we go, Apple... apparently you may get textbooks on the tablet that's comming out.

McGraw: Yeah, Very exciting. Yes, they'll make their announcement tomorrow on this one. We have worked with Apple for quite a while. And the Tablet is going to be based on the iPhone operating system and so it will be transferable. So what you are going to be able to do now, we have a consortium of e-books, and we have 95% of all our materials that are in e-book format on that one. So now with the tablet you're going to open up the higher education market, the professional market. The tablet is going to be just really terrific.

While it's exciting to envision a textbook-free academic future, the tablet could be a revolutionary saving grace in print media as well, with magazine and newspaper publishers potentially using the device as a delivery mechanism that could help them regain their competitive advantage against online blogs and news services. Magazine, book and newspaper publishers are reportedly talking with Apple about providing material.

The device is being hyped as an all-purpose touchscreen media gadget that closes the gap between smartphones, laptops and electronic readers. Looking like a larger version of the iPod Touch, it's believed to be a keyboardless computer with a 10-inch touch-sensitive screen that will be part of an integrated ecosystem of services tipped to include functions and content for academics, digital books, newspapers and magazines.

The iPad, or iSlate as it's been referred to, is expected to have a wi-fi connection to the internet, but there is also speculation that it will link to the web via the mobile phone network as well. If so, users will be able to download various media while on the go, rather than being limited to wi-fi internet hot spots in the home or public access locations.

"There's a huge potential long-term story there for Apple," said Atlantic Equities analyst James Cordwell. "Whether they get it right the first time, we'll have to wait and see, but they have a pretty good track record."

Also speaking on CNBC, in an interview from the Davos economic summit, WPP Group head Sir Martin Sorrell referred to it as the "iTablet." Whether that's the name Jobs will announce later today remains to be seen.

Apple has scheduled a press conference in San Francisco for 11:30am PST Wednesday at the Yerba Buena Center for the Arts Theater.

[UPDATED]

The first official photos of the iPad have been released! The iPad will sell for $499 and features over 100,000 aps.