MacRumors.com

Appleinsider reports that the long awaited iMac updates will finally be released in mid to late summer -- "sometime between the latter half of July and mid-August".

Appleinsider reiterates that the 20" and 24" iMacs will see radical redesigns "both slimmer and sleeker" than today's offerings.

When the project manifests later this summer, it will represent the first major industrial design overhaul to hit the flagship all-in-one consumer Apple desktops in nearly three years.

The 17" iMac is notably absent from the planned makeover and is expected to be discontinued.

According to our Buyer's Guide, the iMac was last updated in September 2006 -- 286 days ago.