Core Viewpoint - Apple Inc. is entering the low-cost laptop market with a budget Mac aimed at attracting customers from Chromebooks and entry-level Windows PCs [1][4]. Product Development - The new device, code-named J700, is in active testing and early production, with plans for a launch in the first half of next year [2]. - The budget Mac will be priced well under $1,000, utilizing less advanced components, including an iPhone processor and a lower-end LCD display [5][6]. Strategic Shift - This move represents a strategic shift for Apple, which has historically focused on premium devices with high profit margins, and has previously avoided chasing market share with lower-end offerings [3][4]. Market Competition - Apple faces increasing competition from Chromebooks and has the opportunity to attract Windows users dissatisfied with Microsoft's Windows 11 [4]. - Currently, Apple holds about 9% of the global PC market, ranking fourth behind Lenovo, HP, and Dell [9]. Financial Performance - The Mac segment was the fastest-growing hardware category for Apple last quarter, with revenue rising 13% to $8.73 billion [10]. Future Plans - Apple has plans for multiple updates in 2026, including the new low-end laptop, M5 MacBook Air, and various Mac models powered by M5 chips [11].