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. This small iMac refresh is apparently meant to drive down the price of the iMac, and
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