Long Term Evolution Apple announced that the new iPad would run on Long Term Evolution (LTE) networks from Verizon ( VZ) and AT&T ( T). This will allow the iPad to watch high-quality video and run on the telecom's high-speed 4G networks. While we still have not seen the insides of The New iPad, Apple has a close relationship with 4G leader Qualcomm ( QCOM), so it's a good bet Qualcomm has some chips in the new tablet. 4G networks are ten times faster than 3G networks, and allow telecom companies to generate additional revenue from these networks, as more 4G users allows for less investment in older, more capital-intensive networks, such as 2G and 3G. The ability to run on LTE networks plays into the company's decision to make the iPad with Retina display, packing in twice as many pixels on the screen, giving users a much clearer image when watching video. LTE will not eat up the device's battery, as Senior Vice President of Marketing Phil Schiller said the iPad would still have 10 hours of battery life for most tasks, and 9 hours on LTE networks.