Apple Lowering iTunes Prices in UK

Apple announced today that it would be standardizing iTunes music pricing in Europe. As a result, it will lower prices it charges for music in its UK iTunes store to match the pricing across the rest of Europe.

Apple currently charges more for downloads in the UK due to the higher wholesale prices in the UK. Apple states that it "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 change comes after European Union regulators had begun investigating iTunes pricing practices after complaints had been filed in 2004. The pricing move is intended to equalize the market across Europe.