The reasoning is down to cost – it’s now seemingly just as cheap to produce a 20-inch monitor as it is a 17-inch, so Apple can afford to lose the budget model. And it will help the company in terms of logistics – less models means less parts.
If there is an iMac relaunch, I’m sure we can expect boosted specifications in terms of processor, memory and storage. It’s all expected to happen sometime next month – we’ll have details as soon as they’re confirmed.
Via Think Secret