Apple keeps song prices at 99 cents each

Apple Computer on Monday revealed it had renewed contracts with the four largest record companies to sell songs through its iTunes digital store at 99 cents each. The agreements came after months of bargaining, and were a defeat for music companies that had been pushing for a variable pricing model.

Since iTunes’ launch three years ago, Apple has charged US consumers 99 cents for each track - a uniform price that Steve Jobs, its chief executive, favours because of its simplicity for consumers.

Read the full story (FT.com)