Apple appears to have quietly introduced an updated version of its low-end 21.5-inch iMac for educational institutions, taking advantage of a cheaper dual-core Intel Core i3 processor and integrated graphics to offer pricing of $1099, $200 cheaper than the entry-level pricing for consumer models. The education-only iMac, which carries a model number of ME699LL/A, also includes just 4GB of RAM and a 500 GB hard drive, while the low-end consumer model doubles both of those figures.

iMac 21.5-inch: 3.3GHz Dual-core Intel Core i3 (Education only model)

Product Number : ME699LL/A - 3.3GHz Dual-Core Intel Core i3

- 1920 x 1080 resolution

- 4GB (two 2GB) memory

- 500GB hard drive

- Intel HD Graphics 4000



It is unclear exactly when Apple began offering the new iMac for educational institutions, but it appears to be a very recent addition to Apple's lineup. The machine replaces the previous $999 iMac for educational institutions introduced over 18 months ago and is positioned to appeal to budget-conscious schools.

Potential customers should note that the $1099 iMac is only available for purchase by educational institutions and is not available to individuals making purchases through Apple's educational discount program. Orders are currently quoted as shipping in 5-7 business days, slightly longer than the 3-5 day estimates for other models through the Apple Store for Educational Institutions.

Consumer models of the iMac ordered through the regular online store in North America just saw their shipping estimates improve to "within 24 hours" earlier today. Apple has also lowered pricing on the 768 GB flash storage upgrade on the 27-inch Mac, dropping the upgrade charge from $1300 to $900.