Complex sentence: Apple was at this time involved in the Newton project which was essentially a larger hand-held computer, but with General Magic's success in the press, they re-positioned the device squarely in the same market and rushed it to release in 1993.
Split into simpler sentences: Apple was at this time involved in the Newton project, at that time based around a design for a larger hand-held computer. With General Magic's success in the press, they re-positioned the device squarely in the same market and rushed it to release in 1993.