US – Sunday, March 21
Published 18:41, June the 8th, 2009
 

Apple announces iPhone price cut

SAN FRANCISCO. Apple cut the price of its entry-level iPhone to $99 yesterday, in a nod sure to please recession-weary consumers, but ailing leader Steve Jobs did not show after speculation he’d end his months-long absence from public view.

Analysts said the discount is sure to galvanize sales, but investors debated the merits of the sharp price cut and the stock price slid .06 per-cent. Apple also unveiled its iPhone 3GS — the “S” stands for speed — which will be twice as fast, take videos and go on sale  later this month for $199 to $299.