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The new 21.5-inch all-in-one desktop comes with a 1.4GHz dual-core Intel Core i5 processor but, more importantly, with a price tag of just $1,099. That makes it a whole $200 cheaper than the current entry-level iMac yet, apart from the chipset, which isnt exactly premium but is no slouch either (it has a Turbo Boost feature that ups performance to 2.7 GHz), the new computer packs enough of a punch in terms of performance and features to start stealing business from Windows PC makers. Rumors have been circulating that a cheaper desktop was on the list of Apples products for this year, however, most experts believed that Apple would make the iMac less expensive by using different materials, a new form factor or using an iPad chip instead of something from Intel. But just like the other models in the range, the new iMac boasts exactly the same super-thin design and metal finish and of course it comes pre-loaded with Apples iWork productivity apps and its creative suite that includes iMovie and GarageBand.