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If you've been holding out for a less expensive iMac, then you're finally in luck. Apple announced a new entry-level 21.5" iMac today, which starts at $1,099. While it still features the same ultra-thin design and display as the other 21.5" iMac models, it does feature some changes to its internal components.
While the other 21.5" iMacs come with quad-core Intel® Core™ processors, the new entry level 21.5" iMac features a low-voltage 1.4GHz Intel Core i5 processor, which can also be found in the MacBook Air. It also has integrated Intel HD Graphics 5000, 8GB of RAM, and a 500GB hard drive. Of course, you can upgrade these components through configure-to-order options, but it'll cost you.
As promised by Apple, iLife and iWork software come free with every new Mac purchase. This includes the new entry level 21.5" iMac. iLife lets you edit your favorite videos with iMovie, create new music or learn how to play piano or guitar with GarageBand, and organize, edit, and share your photos with iPhoto. iWork lets you create documents with Pages, edit spreadsheets with Numbers, and share presentations with Keynote.
The new entry-level 21.5" iMac comes with the Mac OS X 10.9 Mavericks operating system. At WWDC 2012 earlier this month, Apple announced Mac OS X Yosemite, which will be available for free from the Mac App Store this fall.