Apple to launch computer below $500

According to Think Secret Apple is expected to announce a bare bones, G4-based iMac without a display at Macworld Expo on January 11 that will retail for $499. The new Mac, code-named Q88, will be part of the iMac family and is expected to sport a PowerPC G4 processor at a speed around 1.25GHz. The new Mac is said to be incredibly small and is expected to have a Combo drive only.