Apple Unveils New iPod With Wi-Fi

from Business 2.0

Apple announced Wednesday the first major overhaul of its popular iPod music digital players in nearly two years and slashed the price of its new iPhone.

CEO Steve Jobs unveiled a series of iPod upgrades – including more storage and bigger screens – but the showstopper was a new model dubbed the iPod Touch and fashioned after the iPhone.

Apple (down $7.40 to $136.76, Charts, Fortune 500) also announced a new version of its iTunes music store that will allow users to buy songs wirelessly.

In iPhone news, Jobs said Apple will discontinue one of the two models sold since late June. The remaining version, with 8 gigabytes of storage, will now sell for $399, or $200 less than before.

Investors, however, weren’t happy about the price cut (and neither were iPhone owners). Apple shares closed down 5.1 percent on Wednesday.

More here.

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