Apple has much riding on new iPad2

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PHOENIX -- If Apple wants to stay on top in the tablet market, experts say the iPad2 and its new features are crucial.

CNN's Sandra Endo talked about today's anticipated announcement from Apple. She ran down some of the bells and whistles that are expected with the new iPad, including front- and rear-facing cameras for video chatting and recording, more memory, HDMI output and a slimmer build.

The original iPad was introduced nearly a year ago, making Apple the instant leader in the tablet market. Since then, several other tablets have come out, many offering features missing from the first iPad.

Still, while most of Apple's competitors, including Motorola, Research in Motion and Hewlett Packard,  are working with their first-generation devices, they are playing catch-up as Apple is rolling out its second-generation offering and hard at work on the third-generation model.

Apple says it sold nearly 15 million iPads in 2010, making it the solid market leader. So far, competitors have not been able to match those numbers. Analysts say iPad sales are expected to top 30 million in 2001.

It's not clear if Apple CEO and co-founder Steve Jobs, who is on medical leave, will be part of Wednesday's announcement.