Microsoft is reportedly planning to ship a new smaller and cheaper Surface Laptop before the year ends. According to a report from Windows Central (via The Verge), the company is building a more affordable clamshell laptop aimed for students. The device will be smaller with a 12.5-inch display, and it is likely to include an Intel’s 10th Gen Core i5 processor, 4GB of memory, 64GB of storage, and apparently, it will come pre-installed with Windows 10 in S Mode.

Also, it’s rumored that the device will have a price tag of something between $500 to $600. If the information ends up being true, this will be the cheapest laptop in Microsoft’s line of devices, and it’ll be considered a step up from the Surface Go tablet.

The report also reveals that Microsoft will not compromise on build quality to achieve the lower price, as the final product will maintain the same premium feel and design as traditional Surface products. In addition, the laptop will be lightweight, and the 12.5-inch display indicates that the overall size of the device will be smaller.

Although there is not information about an exact release date, the rumor has it that Microsoft is planning to launch its budget-friendly Surface Laptop alongside other products and accessories sometime in October.