Update (Aug. 8th): Following our report, Apple has gone ahead and released it!. Interestingly, no Thunderbolt and RAM not upgradable?!

Apple is gearing up to launch a new addition to the iMac lineup later this month that appears to be geared towards education/volume customers. The new iMac has less power than the current line of all-in-one Apple desktop computers and also has less storage space. The computer packs a last generation 3.1 GHz dual-core processor (3.06 GHz rounded up), 2 GB of DDR3 RAM, 250 GB of hard drive storage space, and the AMD Radeon HD 6750M graphics processor with 256 MB of dedicated memory.

This lower-end iMac obviously has much less horsepower than the current iMac line and should be priced as such. For comparison, the entry level 21.5-inch iMac features a 2.5 GHz quad-core processor, 4 GB of RAM, a 500 GB hard drive, and the same AMD Radeon HD 6750M graphics processor but with double the dedicated memory at 512 MB. This entry level 21.5-inch iMac is priced at $1,199, so don’t be surprised to see this less-powerful machine with a sub-$1000 price tag. For reference, Apple’s last education-geared iMac was priced at $899. A similar (more RAM, worse graphics) refurbished model is currently priced at $929 (pictured below).

Apple is expected to silently release this new machine later this month. As always, thanks Mr. X.

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