After the release of the Apple Lisa computer in January 1983, Apple invested considerable effort in the development of a local area networking (LAN) system for the machines. Known as AppleNet, it was based on the seminal Xerox XNS protocol stack but running on a custom 1 Mbit/s coaxial cable system rather than Xerox's 2.94 Mbit/s Ethernet. AppleNet was announced early in 1983 with a full introduction at the target price of $500 for plug-in AppleNet cards for the Lisa and the Apple II.