As we know that Apple recently announced the release of Apple’s New iPad. And after the release of this version, dev-team promised that they will soon jailbreak it.
So finally the done the trick. We found the video in which they showed the jailbreak of Apple iPad 3rd generation

You can image the speed and dedication of a dev team that they have done the jailbreak of iPad 3 in less than 14 hours after the sales start. As you know so many other hackers are after the untethered jailbreak of iOS 5.1, but dev team only manages it to jailbreak it.

We came to know with the help of MucleNerd. Yeah MuscleNerd posted the screenshot of iPad 3 running Cydia 1.1.5. He posted on twitter. It was great news for us that we can use Cydia on iPad 3 as well.
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