Two cheapest desktop parts in the Core i5 league are called the Core i5 6500 and Core i5 6400. The Core i5 6500 will replace the Core i5 4590 processor and the new Skylake part will work at 3.2GHz. With the help of turbo it will reach 3.6 GHz with at least one of its cores. This is still a quad-core, four thread processor and it comes with 6MB of cache memory.
The processor supports both DDR4 2133 and DDR3L 1600 RAM, and its graphics core works at up to 1050 MHz. This is a 65W TDP part, which is significantly better than 84W TDP with Core i5 4590.
The Core i5 4590 has four cores 6MB cache and is clocked to 3.3GHz by default, and up to 3.6GHz with turbo. We expect that Core i5 6500 ends up at $202 for the box version and $192 for the tray version without a cooler.
The slowest Core i5 version of Skylake is called Core i5 6400 and this one works at 2.7GHz, with turbo capability up to 3.3GHz. It still has 6MB of cache and supports DDR4 2133 and DDR3L 1600 but its graphics core is slowed down to 950MHz. This is still a 65W TDP processor that will end up even cheaper in retail. The Core i7 and Core i5 Haswell processors are expected to launch in Q3 2015, followed by Core i3 and Pentium version in Q4 2015.