Acer has launched C720-2848 Chromebook, which will be available for $199.99.

The latest C720-2848 is available for $50 cheaper than the original C720.

"Since the Acer C720 debuted last month, it's been acclaimed for delivering industry-leading performance and long battery life to mobile savvy computer users," said Arif Maskatia, CTO for Acer. "Our new $199.99 model delivers an incredible value proposition for this level of performance at a time of year when so many people are shopping for gifts for loved ones."

An Intel Celeron 2955U processor based on the Intel Haswell micro-architecture and clocked at 1.4GHz powers the device. The 11.6-inch ComfyView HD display has 1366 x 768 pixels resolution that the company claims to keep websites, images and video crisp and clear.

The C720-2848 includes 2GB of RAM as opposed to the 4GB RAM found on the original C720 Chromebook. The reduction in RAM is one of the key reasons that the company has bought down the price of the device to $199.99. The device includes 16GB of on-board storage. Customers will also get 100GB of free Google Drive storage for the first two years after purchase.

The Chromebook has an integrated HD webcam for video chatting. The C720-2848 has USB 3.0, USB 2.0, HDMI and SD card slot of up to 32GB, which enables users to connect to popular consumer electronics devices such as camcorders, digital cameras and smart phones. The device also has Wi-Fi a/b/g/n connectivity option.

The device has 3950 mAh battery, which can offer users up to 8.5 hours of productivity.

The Acer C720-2848 Chromebook measures only 0.75-inches, which is slim enough to fit into a book bag, purse or backpack. At 2.76 pounds the device is also lightweight enough for users to take along when travelling.

The company announced that the latest Acer C720-2848 will be retail from Amazon.com and Best Buy for $199.99 in the U.S. The Chromebook will also be available at the Acer Store in December.