US computer giant Apple has unveiled a new one gigabyte version of the iPod nano.
The 1GB nano, priced at $149, will offer enough capacity for up to 240 songs or 15,000 photos.
Apple's new device uses cheaper flash memory rather than hard drives, which are used in more expensive iPods.
California-based Apple released a 2GB and 4GB version of the iPod nano in September of last year.
"Now everyone can afford an iPod Nano, with our new 1GB model starting at just $149," said Greg Joswiak, Apple's vice president of worldwide iPod product marketing.
Greg Joswiak, Apple's vice president of worldwide iPod product marketing: "Now everyone can afford an iPod Nano, with our new 1GB model starting at just $149."
The 1GB nano features an ultra-portable, lightweight design with color screen and is available in either white or black.
It also offers a graphical clock, stopwatch, games, a calendar, a contact list and a screen lock that uses the click wheel like a combination lock.
Like the iPod shuffle, the 1GB nano uses USB to connect to either Mac or PC computers.
The 1GB nano is the newest member of Apple’s iconic iPod family for both Mac and PC which includes the fourth generation iPod, the iPod Video, the iPod U2 Special Edition and iPod photo.
Apple has sold more than 40 million iPods since their introduction in October 2001. During the last three months of 2005, Apple sold a staggering 14 million iPods, a year-on-year rise of 207 per cent.
The company has also cut the price of its popular iPod Shuffle range.
The 1GB iPod shuffle will now cost $99 and the 512MB version will retail for $69. Before the price cuts, a 1 GB shuffle would set you back $129, while a 512 MB shuffle was priced at $99.
Apple also announced that it has sold over 12 million videos on its online iTunes music store.
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