The much-awaited Samsung Galaxy Tab 2, 10.1-inch version, was announced Saturday ahead of the Mobile World Congress (MWC).

The device is an update to its Galaxy Tab flagship and would be running on Ice Cream Sandwich with Samsung's TouchWiz UI skin. The tablet has also got a nice feel to it - it's lightweight and slim. It is a definite competitor to drive away the market share of the much-rumored Apple iPad 3.

Well, iPad 3 has not even officially been announced, yet it is enjoying huge amounts of press attention owing to a series of leaks which have given the world a potential glimpse of what it has got to offer its fans.

Here is a comparison of the rumored features of Apple's iPad 3 and the confirmed features of Samsung Galaxy Tab 2 (10.1)

Operating System: iPad 3 is expected with the next generation iOS 5, which will host the multi-touch gesture technology. However, analyst and tech enthusiasts predict that Apple would introduce OS X Lion for the tablet since it will be powered by a quad-core processor. This will also include multitasking features, such as notifications, task-finishing, app-switching, location and background sound.

Samsung's Galaxy Tab 2 (10.1) will run on Google's latest Android 4.0 operating system, Ice Cream Sandwich. It will feature a redesigned user interface with a new app gallery layout, embedded Google applications, a Face Unlock feature employed with a facial recognition software, and access to a wide variety of multimedia through Samsung Hub services.

Processor: Samsung Galaxy Tab 2 (10.1) would be powered by a 1GHz dual-core processor and the device would be loaded with its unique TouchWiz panel. The device will be rolled out in two variants - 16GB and 32GB - which would be expandable up to 32GB using a microSD card.

Meanwhile, rumor has it that Apple iPad 3 would boast a quad-core A6 chip to power but recently few leaked images suggest that the new tablet will have an A5X chip, contrary to the previous rumors which claimed iPad 3 will run on quad-core processor. Further, it is believed that iPad 3 offers no support for removable memory, following its preceding version.

Display: Samsung's Galaxy Tab 2 (10.1) would feature a 10.1-inch PLS TFT display with a resolution of WSVGA (1024x600pixels) and would offer a pixel density of 149ppi.

On the other hand, iPad 3 is expected to have a Retina Display. iPad 3 is also rumored to feature a 9.7-inch LED-backlit IPS TFT with a resolution of 2048x1536 pixels, twice that of the iPad 2. Analysts predict a pixel density of around 170ppi too, which will put the device's display up there with the best of them in terms of sharpness.

Camera: It is the expected that iPad 3 will come with LED flash to support the camera. Also, it is expected to have a 5MP camera with 1080p or 720p video recording quality of 60 frames per second. According to speculations, the technology made by OmniVision will help reduce the size of the table by 20 percent.

In Galaxy Tab 2 (10.1), the cameras would be limited to 3MP with LED flash, autofocus, geo-tagging and 720P video capture. Moreover, it would feature a VGA on the front which would offer a high quality video calling as a result.

Size & Weight:  Even though the size of the new iPad 3 is expected to remain the same as iPad 2, the thickness of the new tablet could increase a little bit - only by 1 to 1.5 mm.

A back shell of iPad 3 was leaked from M.I.C. Gadget recently, suggesting the device will be thicker than its predecessor, and the edges will be rounded off gently. The thickness is designed to accommodate the purported Retina Display and a larger battery.

With Samsung Galaxy Tab 2 (10.1), the tablet's skinny dimensions are kept intact, with a profile of just 9.7mm and it weighs around 19.9 ounces. Further, the device is equipped with a 7,000 mAh battery (up from 4,000 on the 7.0), which will hopefully ensure stamina that's similar to its predecessor.

There is no official word from Apple on the release of iPad 3. If the new device offers such an escalation from its preceding device, then it would undoubtedly be the most powerful in the Tablet crowd.

However, Samsung can win the race with its low-budget price tag. Currently, the device will launch in the UK first and should be released around the world market soon after. The company has provided price tag information for Denmark, Norway, Sweden and Finland.

Depending on the country, the Galaxy Tab 2 with WiFi-only will likely be priced between $420 and $460 whereas 3G units would be priced above $520.  The company has not released any price points for the UK yet.

Further, Galaxy Tab 2 (10.1) would also offer 1GB of RAM, Bluetooth 3.0 connectivity and 21Mbps HSPA+ connectivity, if one opts for the 3G model instead of WiFi. Adding on, the Galaxy Tab 2 will also be the first out of all Samsung mobile devices to feature its AllShare Play service, which enables users to stream media to their tablet from a PC, Samsung smartphone or cloud drive.

On the other hand, iCloud would be the hot word for iPad 3 users with which they can store photos, apps, calendars and access songs on iTunes without having them to store in the phone's memory.