In a significant shift in strategy, Apple is preparing to enter the low-cost laptop market, in an attempt to rival Chromebooks, according to Bloomberg’s Mark Gurman.

It appears the company is developing a budget-friendly version of Mac, which is aimed at luring away Chromebooks and entry-level Windows PCs and could be worth around $600, which translates to just Rs 55,000.

Apple also wants to attract would-be iPad buyers who prefer a more traditional laptop experience.

The project is codenamed J700, and the machine is currently in active testing at Apple and in early production with overseas supplies, the report adds.

Apple plans to launch the product by the first half of next year and will be priced less than the $1,000 price tag for the current generation of MacBook Air.