Apple announced the cheaper versions of the popular desktop lineup 'iMac'. The 21" iMac was announced about $200 cheaper. The new price of the iMac (June 2014) is $1099 (21") and it comes with a much slower processor. It should do the job if you don't use it to play games or do some graphic intensive work. The real caveat is that the 8GB RAM it comes with is soldered on the board and you cannot upgrade it! If you are planning on buying the new iMac thinking that you will upgrade the RAM afterwards, please save yourself from the unwanted surprise. At the same time, the the SSD can be upgraded to 256 GB. If you are an enthusiastic DIYer, please be aware of the things you are losing out on by paying less for the new iMac. Most users should be all fine with 8GB of RAM though.