KGI’s Ming-Chi Kuo is reporting that Apple will refresh the iMac hardware this quarter. KGI claims that the external appearance of the iMac will remain the same but Apple will update the internal components, such as the CPU, as well as a new screen for improved display quality, for this revision of the hardware.

The report does not mention whether a 21.5 inch Retina iMac is in the offing however, despite an El Capitan beta including 4K Retina artwork for such a product. Kuo doesn’t say it isn’t happening though, it’s just not addressed in this report.

The report says it expects Apple to use a phosphor material to significantly improve color saturation on the new iMac panels. Most models of the iMac range have been somewhat stagnating. Aside from the 27 inch Retina models and a cheaper low-end variant in August 2014, the lineup has not been updated since 2013. Hence, it’s not really a surprise that an update is reaching release. Kuo says Apple wants to launch the new iMac update in the current quarter.

Given Back to School buying schemes by educational institutions and individuals, Apple has a motivation to get Mac updates sooner so an August release is not out of the question. The Back to School deal gives away a pair of Beats Solo2 headphones with the purchase of a new Mac, excluding the Mac mini.