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Apple Inc. is gearing up for its Special Press Event today (Wednesday, 27th January, 2010) which is expected to unveil the latest innovation from the iPhone company. The Press anticipated this event to be the launch event for the much-talked about Apple’s Tablet device, tipped to be called iSlate.

This tablet device from Apple is to have a sleek 10-inch color display and Wi-Fi capabilities, according to the reports in various publications over the month. This device is said to allow newspapers, magazines, and book publishers to deliver their products with an eye-catching design.

Well, the device comes across as a ray of hope for the newspaper publishers who have been ailing with poor finances due to decline in revenues over the time. According to the reports, Apple’s Tablet device will introduce a new model where the newspapers would be able to charge for their content and bring in an additional stream of revenue.

Guardian feels that the Apple Tablet will deliver change for the newspaper industry, similar to that by Apple’s portable music player iPod and invent of music store iTunes. While, the New York Times write, ‘Marrying its slick and slender designs with the iTunes payment system, Apple could help create a way for media companies to alter the economics and consumer attitudes of the digital era’.

Besides, reports have also been dong the rounds that Apple was conducting talks with various book publishers to devise a model to offer books via the Tablet. The Wall Street Journal had mentioned New York Times Co., Condé Nast Publications Inc. and HarperCollins Publishers and its owner, News Corp., to be among them.

With all these hopes being laid on this device, the World awaits the final launch by Apple.