Apple today reduced the price of its 1GB iPod shuffle to £32 and announced a 2GB model which will be available soon.

The 1GB model previously retailed at £49 in the UK and is available at the new price, £32 immediately from the Apple Store, whilst the 2GB model will be made available soon, costing £45.

The price drop is likely a result of falling flash memory prices as Apple also recently updated the iPod touch and iPhone lines with new models boasting increased capacities of 32GB and 16GB respectively.

Link: Apple Store