Lenovo has added a low end option to its IdeaPad U150 line of thin and light laptops. The notebook had already been available with a choice of a 1.3GHz Intel Pentium SU4100 or 1.3GHz Intel Core 2 Duo SU7300 processor. Now there’s a cheaper model with a 1.2GHz Intel Celeron SU2300 CPU.

The new model also has less RAM and a smaller hard drive than the other two, but it also has a lower price tag: starting at just $550.

The U150 with a Celeron processor has 2GB of RAM, a 160GB hard drive, and 802.11b/g WiFi. The laptop has an 11.6 inch, 1366 x 768 pixel display, GMA 4500MHD graphics and a dual core SU2300 CPU. It runs Windows 7 Home Prmeium and weighs about 3.3 pounds.

There’s no mention of the new model on Lenovo’s U150 page yet, but you can pre-order it for $549.99 + free shipping from Amazon. Or you can get a similarly equipped Acer Aspire 1410 for about 00 less.