Apple cuts music prices, still stays on top

CUPERTINO, Calif. Apple has cut the price it charges for iTunes Plus tracks in the U.S. by almost 25% to $0.99 each, according to reports.

The new pricing strategy is now parallel with what Amazon charges for songs on its new online music store, which launched late last month.

In addition to the two media outlets, U.S. retail giant Wal-Mart also sells a wide array of songs in MP3 format through its online store, which are available for $0.94 each.

Experts say that Apple can continue to maintain its high prices everywhere else in the world without worrying about threats to its market share, since the Amazon and Wal-Mart online music stores are only available to residents in the United States.