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NEWS: Apple set to cut the price of iTunes downloads in the UK

Apple says it will cut the price of iTunes downloads in the UK over the next six months to bring prices into line with the rest of Europe.

The company currently charges 79p/download here in the UK, compared with 99 Euro cents (around 74p) in other European countries.

"Apple will reconsider its continuing relationship in the UK with any record label that does not lower its wholesale prices in the UK to the pan-European level within six months," the company says.

European regulators began investigating iTunes prices last year. EU Competition Commissioner Neelie Kroes welcomed the move, saying it would "allow consumers to benefit from a truly single market for music downloads".

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