(Reuters) -Apple is preparing to launch a budget Mac in the first half of next year, entering the low-cost laptop market for the first time, Bloomberg News reported on Tuesday.

The device, aimed to lure customers away from Google’s Chromebooks and entry-level Windows PCs, is made for students, businesses and casual users who primarily browse the web, work on documents or conduct light media editing, Bloomberg reported, citing people familiar with the matter.

Apple is also targeting would-be iPad buyers who might prefer a traditional laptop instead.

The iPhone maker aims to sell the laptop, code-named J700, well under $1,000 by using less-advanced components, the report said. It is currently in active testing at Apple and in early production with overseas suppliers.

Apple did not immedi

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