A cheaper version of one of Apple's most expensive products - the MacBook Air - is expected to be released in September.

The reduced price may be indicative of improvements in Apple's supply chain, which could allow the company to produce the trendy model for a significantly lower cost. The superslim notebook computer, which weighs approximately 3 pounds, is also set to receive its first upgrade since June 2009, when its processor was updated to a faster Intel Core 2 Duo model.

"We are not yet clear on all the specs, but supply chain checks suggest that unit shipments of the new Air products could far exceed the current Air, which we believe could suggest lower starting prices," said analyst Keith Bachman of BMO Capital Markets.

Bachman estimates that the Cupertino, California, company's supply chain will be able to produce 2.9 million notebooks in the September quarter. That number may not even be enough to meet demand, however, as Apple's other popular products - such as the iPhone and the iPad - have been consistently sold out and notoriously difficult to obtain.

The MacBook Air notebook currently retails for $1,499.
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