Apple planning to launch $799 MacBook Air in Q3 2012

Apple is rumored to launch a $799 MacBook Air model in the third quarter of 2012 to compete with new "Ultrabook" laptops. Last month, it was said that Intel hopes to see shipments of as many as 30 million Ultrabooks this year. The company designed the Ultrabook specification after Apple found great success with its new MacBook Air.

Apple's plans are reportedly to counter second-generation Ultrabooks, based on Intel's specifications for thin and light notebooks, which PC makers hope to price around $699. If PC makers are unable to reach the $699 price point with their second-generation Ultrabooks, Apple could have a significant competitive advantage with an aggressive $799 price point for a new MacBook Air, the report claims.

Currently the cheapest Apple’s laptop is the 11.6-inch MacBook Air, which is priced at $999. The company is expected to begin revamping its Mac lineup in the coming weeks with Intel's latest-generation Ivy Bridge processors. The product is expected to begin with new MacBook Pros, starting with a 15-inch model.