Apple has just unveiled the budget option of its iPad lineup, the "9.7-inch iPad," which is powered by the A9 processor chip. But it's not only the iPad that was revealed, as Apple also launched a Red special edition for its "iPhone 7" and "iPhone 7 Plus."

According to a press release from Apple, the new iPad is featuring a retina display and the latest powerful A9 chip. And the "9.7-inch iPad" is being introduced at its "most affordable price ever."

The latest iPad's price will be starting at $329 for the 32GB with Wi-Fi model. It's said that the update to Apple's most popular iPad not only delivers a better performance, but it also has a battery-life that can last all day.

The retina display has over 3.1 million pixels that will allow users to take breathtaking pictures and videos. The new iPad also has access to more than 1.3 million apps, which are specifically designed for the tablet.

Philip Schiller, Apple's senior vice president of Worldwide Marketing, said that people who are looking to upgrade their existing tablet will love their new "9.7-inch iPad." He said that they can use it "at home, in school, and for work." The new device will be available beginning March 24.

Aside from a new iPad, Apple also launched a new design of its "iPhone 7" and "iPhone 7 Plus." The new device is covered in a red aluminum finish, with a white front. But the beauty of this new finish is that Apple is using the proceeds to donate to the Global Fund to fight AIDS.

Apple is planning to donate 100 percent of all the money that they will raise with the "iPhone 7" and "iPhone 7 Plus" Red special edition to the Global Fund for AIDS. The special edition device will also be available beginning on March 24. Check out more information about the latest products that Apple has unveiled.