Steve Jobs & Co. have been busy bees recently. Barely the dust has settled after the over excited media hype of the iPhone, while the fruit company already comes with new major products and statements. Meet iPod Touch which essentially is an iPhone, but without the phone. It has the same monolith design, cool touch screen user interface, Wi-Fi connectivity, Web Browser, etc. A whole lot of features for a "walkman". Apple is also improving the iTunes so that songs can be bought directly to the device over WLAN. iPod Touch will certainly appeal to Apple's fanbase, but the ones that already bought iPhone have a good reason to be angry, as Steven Jobs announced that the iPhone price is slashed -200$ lower - a whopping 33% discount! While technical gadgets have a tendency of getting cheaper over time, this maneuver by Apple is rather surprising - has the iPhone demand gone down after all the excitement, or why such a steep turn?

The iPod Touch will be just 8mm thick and slightly smaller than an iPhone. It will have the same touch-screen interface, the same picture and video playback features, plus it will come with the Safari browser for Internet access. "We think it's one of the seven wonders of the world," said the usually immodest Jobs.

The iPod Touch comes in two configurations: an 8GB version, which will sell for $299, and the 16GB version, which will run $399. Both have 22 hours of audio battery life, or five hours of video playback.

The iPod Touch was the cap of the big news of the day, but it wasn't alone. Jobs announced a huge price cut for the iPhone sure to anger all those who rushed out and bought one. He noted that the 8GB version of the phone was vastly more popular than the 4GB version, so the 4GB version is going away and the 8GB version, which sold for $599, will now sell for $399, a 33 percent price cut.

Source: Internetnews.com