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SAN FRANCISCO (AP) - Apple will sell its newly unveiled tablet-style iPad starting at $499.

The iPad resembles an iPhone, but larger. Apple will sell some iPad models with data plans from AT&T, with no contract required.

Apple Inc. will have to convince consumers, many of whom already have Internet-connected phones, computers and TVs, that they'll want to pay that much for such a device, when many small, lightweight "netbooks" cost less than $400.

• Raw Video: Apple Debuts Tablet-style iPad 
  Apple CEO Steve Jobs introduced the iPad as the company's "latest creation," saying the tablet-style device is more intimate than laptop. 

CEO Steve Jobs says the iPad will be better for reading books, playing games and watching video than either a laptop or a smart phone.

The initial price is likely to drop. Apple sold the first iPhone for $599 but slashed the price to $399 after a few months, upsetting early buyers.

Shares in Apple fell $4.65, or 2.3 percent, to $201.29 in afternoon trading Wednesday. The Cupertino, Calif.-based company's shares have more than doubled over the past year, partly on anticipation of the tablet computer.

(Copyright 2010 by The Associated Press. All Rights Reserved.)