I found a brief post that defines Augmented Reality. It does so by comparing it to Virtual Reality. Excerpt with proper link:
Virtual reality is a reality that is 100% digital. Virtual reality is often seen trough VR-glasses for a more immersive experience.
Augmented reality is reality with more information added to it that is normally not available in the way that augmented reality delivers it. An example of augmented reality is Layar. Layar displays information on top of reality using a camera phone, gps and a compass. Augmented reality is half way between virtual reality and the reality (“50% digital”)
Read more at Pieter Pelt
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