*Source: Reuters (
http://www.reuters.com/article/techn...712420070907)*
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NEW YORK (Reuters) - Apple Inc's hefty iPhone price cut pits it in direct competition with handsets from Motorola Inc and Palm Inc, which are struggling to convince Wall Street they can turn around their aging brands.
With the music-playing iPhone now selling at $399 instead of $599, its price tag is much closer to other smartphones in the U.S. market, including Palm's Treo and Motorola's Razr2.
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