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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Apple cuts iPhone to $99, Jobs nowhere in sight Mon Jun 8, 2009 4:04pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Alexei Oreskovic and David Lawsky SAN FRANCISCO (Reuters) - Apple Inc cut the price of its entry-level iPhone to $99 on Monday, in a nod sure to please recession-weary consumers, but ailing leader Steve Jobs did not put in a much speculated-about appearance after a months-long absence from public view. Analysts said the discount is sure to galvanize sales of the device. But shares in Apple slid 0.6 percent to $143.85 -- after a 6.5 percent climb in the week leading up to the highly anticipated event -- as Jobs failed to show and investors debated the merits of the sharp iPhone price cut. Apple also unveiled its next-generation iPhone 3GS -- the "S" stands for speed -- which will be twice as fast, take videos and go on sale in countries including the United States and Germany from June 19 for $199 to $299. Apple is selling "the 3G at a breakthrough price of $99," marketing chief Phil Schiller told the crowd. "That starts today." Morgan Stanley estimates that an entry-level, $99 phone would double existing sales. Apple kept its legions of fans enthused on Monday with a spate of other product announcements: new and cheaper notebooks with revamped software, and new applications and games for the iPhone. But the most talked-about news -- that Chief Executive and founder Jobs might make a cameo -- failed to transpire. Suspense and speculation had mounted in the months before Apple's annual Worldwide Developers' Conference, with hopes ranging from a cameo by Jobs -- out till the end of June on medical leave -- to revelations of a game-changing tablet mini-PC or cheaper iPhone. Jobs, a pancreatic cancer survivor, has not appeared despite speculation he would, after springing his leave of absence on stunned markets in January by saying his health problems were more complex than previously thought. Despite a slowing product line, worsening consumer spending and an uncertain succession plan, investors have quickly got comfortable with the idea of a Job-less Apple. Shares of the maker of the iPod and iPhone have surged 85 percent since shortly after the bombshell was dropped on January 14. A JAZZED-UP PHONE Apple's stock is historically volatile during the company's June developer conference. It dropped about 7 percent over the course of the conference in 2008 and about 4 percent in 2007. Much of Monday's event was taken up with new features for Apple's best-selling gadget. Executives announced that new iPhones will support TomTom satellite navigation devices and support multiplayer games such as Asphalt 5. The consumer electronics giant showed off a new 15-inch notebook with improved battery life, a $300-cheaper Mac Air -- its thinnest laptop -- and, as expected, its highly previewed "Snow Leopard" Mac operating system software. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: China to require software on PCs to block sites Also On Reuters China to require site-blocking software on PCs Full Coverage: Reuters Global Luxury Summit Blog: Should NFL give Vick a second chance? More Technology News China to require software on PCs to block sites Tech cos enlist Democrat to blast Obama tax plan Sweden's free-Web Pirate Party captures Euro seat Fans gather for launch of "iPhone killer" Palm Pre | Video In downturns, Internet companies look to sell start-ups More Technology News... Editor's Choice Slideshow A selection of our best photos from the past 24 hours. Slideshow Most Popular on Reuters Articles Video North Korea jails U.S. journalists, warns U.N. | Video Crews find more bodies from Air France crash | Video Canadians angered over "Buy American" rule Obama speeds projects to create, save 600,000 jobs China influence to grow faster than most expect: Soros Carradine mystery deepens, family seeks FBI help Netanyahu wants "maximum understanding" with U.S What if U.S. banks repay government too fast? UPDATE 4-Airlines wait for Airbus directive after crash U.S. top court justice grants Chrysler sale delay Most Popular Articles RSS Feed Video Bodies from Air France crash found Lebanese vote in tight contest Men freed from China tunnel collapse Obama soaks up Parisian culture Tornado hits northern Italy Celebrations mark D-Day anniversary U.S. journalists get 12 yrs Mummies found in Peru No gas for this air-powered car Tokyo's top dog skateboards Most Popular Videos RSS Feed We want to hear from you Join the Reuters Consumer Insight Panel and help us get to know you better Please take a moment to complete our survey Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Labs | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers International Editions: Africa | Arabic | Argentina | Brazil | Canada | China | France | Germany | India | Italy | Japan | Latin America | Mexico | Russia | Spain | United Kingdom | United States Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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