Apple has cut the price of its mid-range PowerBook by around £500.

The reduction means the 500MHz model will now cost around £1,899 - down from £2,349 (according to the Apple Store).

The PowerBook has a 14.1-inch TFT XGA display, a 500MHz PowerPC G3 and 1MB L2 cache. It also comes with 128MB RAM, 20GB hard drive, a DVD-ROM, 8MB video memory, 56K internal modem, two USB ports and two FireWire ports.

Retailers began updating their list prices yesterday morning. They believe that the massive price reduction presages Apple's announcement of a revamped PowerBook line. New models, they believe, could be announced at Macworld Conference and Expo, San Francisco in January 2001.

Apple sources are unavailable for comment at this time.