Apple prepares to sell low-cost laptops for first time

Apple held about nine per cent of the global PC market in the third quarter, ranking fourth in the industry, trailing Lenovo Group Ltd., HP and Dell — all of which sell Windows or ChromeOS devices. Photo by CHRIS TUITE/AFP via Getty Images/Postmedia files

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 i