The cheaper iMac that was mentioned in various reports in preceding weeks is now listed on Apple’s online store, a 21.5-inch model priced at $1,099. The entry-level iMac joins the existing 21.5-inch and 27-inch versions, being $200 cheaper than the 21.5-inch model that sells for $1,299. However, because it’s cheaper, the new iMac also has less impressive hardware, packing a 1.4GHz dual-core Intel Core i5 processor – all other iMacs have quad-core CPUs – and an Intel HD Graphics 5000. Other specs include 8GB of memory and a 500GB hard drive. The new iMac can be purchased immediately and will ship in 24 hours.
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