Apple to cut UK iTunes prices

Apple has announced that it will cut the cost of UK downloads from iTunes.

Apple has promised to cut the 79p per song charge within 6 months. The cost cut would bring it in line with prices of downloads in the rest of Europe. Current download prices for Europe are 99c or 74p.

A recent European Union antitrust case meant that Apple had been under investigation since April. Consumer group, Which ? filed a complaint claiming that Apple and major record labels were unfairly restricting the choice and cost of downloads from European music store.

Apple has also said that it will take action against record companies who charge more for music in the UK than they do in the rest of Europe.

The European Union welcomed Apple’s decision to lower prices and said the company need not take any further action.

Apple CEO, Steve Jobbs has said this is an important step towards a pan-European marketplace for music and that Apple hopes every major record label will take a pan-European view of pricing.