Battered by online piracy, the world’s largest record company said that it would cut prices on compact discs by as much as 30 percent.
Under the new pricing scheme, Universal would lower its wholesale price on a CD to $9.09 from $12.02. The company said it expected retail stores to lower CD prices to $12.98, from the $16.98 to $18.98 they now charge, and perhaps to as low as $10. When CD’s first arrived on the market they cost $15.98, and have climbed from there. [New York Times: Technology]