Apple has officially announced the latest version of its newest iPad, which also has a new name: the iPad Air. The 9.7-inch iPad Air with Retina Display weighs just one pound, compared with 1.4 pounds for the previous version. Also, the iPad Air is only 7.5mm thick, which is 25 percent thinner than previous iPads. Apple has updated the new iPad’s processor to the A7 and packed the M7 motion co-processor into iPad Air, the same you’ll find in the iPhone 5s. The new tablet will ship on November 1 in space gray and black, and silver and white colors. Prices will start at $499 for a 16GB Wi-Fi-only model and go up to $629 for a 16GB with 4G LTE connectivity.