"This fourth generation is a powerhouse," Apple's Senior Vice President of Worldwide Marketing Phil Schiller told the audience and online viewers.
"What's inside it? A new chip, the A6X. It doubles the performance of CPU tasks."
That's a big promise, but according to a new report, Schiller's claim that the iPad 4 has double the power may have even been a little conservative.
The numbers don't lie
In TechRadar's side-by-side comparison of the iPad 4 and iPad 3, we noted that the new Apple tablet, dubbed the "iPad with Retina display" despite the last iPad carrying the same screen, might not be a significant upgrade.
But according to a benchmark someone concocted using the Geekbench Browser benchmark tool, the iPad 4 has more than twice the processing power of its predecessor.
That may in fact be due to Apple's new A6 chip. The benchmark results indicate that the iPad 4's version of the A6 clocks in at 1.4GHz, up from the last iPad's 1GHz A5 processor.
The iPad 4's quad-core graphics likely don't hurt, either, and the device doesn't appear to suffer from having the same 1GB of RAM that the last iPad did.
Apple's new A6 chip is also found in the iPhone 5, where it clocks in at 1.3GHz, and according to the same benchmark report, the latest iPhone more than doubles the iPad 3's power as well.
Is it worth an upgrade?
Apple revealed some interesting figures during the iPad press conference, including that 100 million iPads have been sold, and that iPads make up 91 percent of all tablet web traffic.
Apple's previous iPad, the third-gen model with Retina display, was released in March, so some users might be understandably hesitant to upgrade to the iPad 4.
The fourth-gen Apple tablet is priced starting at $US499/£399/AUD$539 for the 16GB Wi-Fi version, while $US629/£499/AUD$679 is the starting price for the same size iPad 4 with LTE data.
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