iPod Shuffle for $49

Apple today slashed the price of the 1GB iPod Shuffle from $79 to $49, making it the most affordable iPod ever.

The 37.9% price cut is even steeper than the $200 (33%) cut in iPhone prices that Apple announced last September. The company took advantage of rapidly falling memory prices to offer its customers the lowest entry point in the iPod’s six year history.

Apple also announced that a new, 2GB Shuffle will be available later this month for $69.