In a refreshing blast from the past, Apple Computer on Wednesday announced the iMac, an "Internet-age computer for the rest of us” that resembles a 21st century rendition of the classic all-in-one Mac design.

The iMac, which will retail for only $1300, includes a 233MHz PowerPC G3 processor, 512K L2 cache, 32MB of SDRAM (expandable to 128MB), a 4GB IDE hard disk drive, Mac OS 8.1, two 12Mbps Universal Serial Bus (USB) ports (a first on the Mac), an IrDA port, a keyboard and a mouse. It also features a 24X CD-ROM drive, a built-in 15-inch monitor, built-in 10/100BASE-T Ethernet support, a 33Kbps modem, and built-in stereo speakers with SRS sound. The system will be completely compatible with existing Macintosh systems.

The iMac is just one part of Apple's new product strategy, which was also announced on Wednesday by interim CEO Steve Jobs. Apple also announced a new line of G3 PowerBooks.

"These new product lines give people what they want most, a lightning fast laptop and a striking new consumer Macintosh," said Steve Jobs, Apple's Interim CEO. "Apple leads when it expresses its vision through its products, exciting you and making you proud to own a Mac. Our design savvy and manufacturing efficiency will put a new generation of Macintoshes on the desktop and on the road. The same focus and passion that brings these products to market has also made us a healthier company."

Apple plans on releasing the iMac in August.

For more information, please visit the iMac page at the Apple Web site