Apple (AAPL) announced its newest version of the iPad mini during its annual fall event on Tuesday. Available next week for $499, the iPad now has a 8.3-inch display thanks to its all-new design.

With smaller bezels, Apple had to find a new place for the iPad mini's Touch ID. Now, you'll find the sensor on the power button, similar to the current iPad Air.

As far as performance, Apple says the new iPad mini gets a 40% jump in CPU performance and 80% increase in GPU performance over the prior mini. What's more, the iPad mini now has a USB C connection rather than a Lightning port, which Apple says provides better overall connectivity speeds.

Apple is also adding 5G cellular capabilities to the iPad mini, allowing you to stay connected when you're away from your home Wifi.

The mini's cameras have also been updated. The rear camera now has a 12-megapixel sensor, and an improved flash for low-light shots. You'll also be able to record videos in 4K. The front camera is a 12-MP option with the company's Center Stage technology, which lets the FaceTime camera track you as you move, ensuring the camera stays focused on you. Apple introduced the capability on the iPad Pro and says it will also work with third-party video apps.

In terms of accessories, the iPad mini will be compatible with the second-generation Apple Pencil, which will connect and pair with the tablet magnetically.

The mini is an incredibly versatile tablet for its size, and to see Apple finally giving it an upgrade proves the company is dedicated to ensuring one of its more convenient products will continue to kick around for quite some time.

Apple unveils new iPad

Apple also announced the latest version of its base iPad. Available next week for $329 with 64GB of storage, the new iPad gets a new A13 Bionic processor that Apple says is three times faster than the best-selling Chromebook and six times faster than best-selling Android tablet.

The FaceTime camera has also been upgraded to a 12-megapixel ultra-wide camera and gets Center Stage. The iPad display, meanwhile, gets Apple's TrueTone technology, which automatically adjusts the screen color to match the surrounding light so hues appear more natural.

Interestingly, Apple says this iPad will also support the first generation of the Apple Pencil, meaning you'll be able to draw directly on its screen.

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