APPLE, POLISHED ; NEW IMAC IS COMPUTER AS ARTWORK

If Apple’s new iMac G5, which premieres this weekend, looks familiar, there’s a good reason: It resembles an iPod, supersized.

By evoking the iPod’s slimmed down innovative design, Apple is betting the iMac G5 picks up some of the buzz – and the tremendous sales – the portable music player has enjoyed.

The company could use the help: Apple’s share of the personal computer market has shrunk to 2 percent from 8 percent over the past decade.

In a case where form drives function, the new modern-art iMac is an all-in-one component that incorporates the hard drive and processor into the 17-inch or 20-inch display. A two-inch thick, pure white rectangle, it can be hung on the wall like a flat-screen TV.

“People buy a plasma TV not just for the picture – they like the design. You hang it on your wall,” said Michael Gartenberg, an analyst with Jupiter Research. “There’s a design element in the G5 that will attract a lot of folks out there.”

Designers agree.

“The new iMac is really sleek, space saving, and good looking – not the kind of technology you need to hide,” said interior designer Keith Geldof. “Flexibility and utility are very important, especially to New Yorkers in our small spaces.”

Of course, Apple isn’t selling the iMac purely on its aesthetic appeal. The computer contains a high-speed G5 processor and the company’s iLife software that manages music, digital photos and videos. The iMac includes a CD/DVD-burning SuperDrive.

With a starting price of $1,299, it’s also less expensive that previous Apple desktops.

That may not compare to a Windows-based bargain for $500, but that’s not comparing apples to apples, say analysts.

“I would compare it to a good name-brand machine, like a $2,000 Sony Vaio laptop. It’s expensive but worth it,” said Mark Anbinder, a senior consultant at Cornell University. “I wouldn’t compare it to a $499 Dell system that’s advertised on TV. I’d compare it to a $1,500 decent product with decent support.”

He added, “It’s a powerful machine, compact and inexpensive and does everything the average user needs. For basic graphics and video editing tasks, this is (an excellent) machine.”

Apple has some critics, however, particularly for the iMac’s meager wireless capabilities. While it’s an option, Wi-Fi or Blue Tooth components for wireless connectivity (Bluetooth, for instance, allows a wireless keyboard connection) aren’t standard in the new units.

“PC manufacturers are adding TV tuner cards and Wi-Fi technology,” said Paul Jackson, an analyst with Forrester Research. “Why didn’t Apple build a $50 component straight into the device, even if consumers don’t use it for a year?”

Apple missed a big chunk of sales with the current back-to-school market; the company had hoped to have the new iMacs out six weeks ago. While students can buy iBooks, a common campus sight, no iMacs were available.

“It’s still out in good time for the busy fourth-quarter season,” Jackson said. “They won’t be losing sleep at the moment because they’ll be selling out.”

Regardless of flat sales, “the company is still making money,” Gartenberg said. “The shareholders are happy.”