The WSJ reports that apple is reducing the prices of DRM-free songs from $1.29 to $0.99.
Steve Jobs said that new iTunes Plus pricing would go in effect latest today.
Apple's new low pricing on DRM-Free music is driven by the competing lower-priced offerings from Amazon.com and Wal-Mart.Currently the iTunes Plus DRM-free songs are mostly from EMI. Apple has no such deal with other major record labels in place yet.
More details on the WSJ (Subscription). Do you have the iPhone song yet?