Apple Inc. is preparing to enter the low-cost laptop market for the first time, developing a budget Mac aimed at luring away customers from Chromebooks and entry-level Windows PCs.

The new device — designed for students, businesses and casual users — will target people who primarily browse the web, work on documents or conduct light media editing, according to people familiar with the matter. Apple is also targeting would-be iPad buyers who might prefer a traditional laptop experience instead.

Code-named J700, the machine is currently in active testing at Apple and in early production with overseas suppliers. The Cupertino, California-based company plans to launch it in the first half of next year, said the people, who asked not to be identified because the product hasn’t been announced.

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