Apple Lowers Prices of Titanium Laptops

Apple Computer Inc. said it will lower the price of two models of its Titanium PowerBook laptop computer by as much as 15% because of slow sales.

Apple will lower the price of the laptop with a 400-megahertz processor to $2,199 from $2,599 and a 500-MHz model to $2,999 from $3,499. The more expensive line of PowerBooks provides more revenue and profit than the cheaper line of iBook laptops. The new prices are effective today.

Apple introduced the 1-inch-thick, 5.3-pound PowerBook with a 15-inch display in January, seeking to lure users with a combination of speedy computing and aesthetics. Sales of the product helped Apple’s results exceed forecasts in the quarter ended in March, as it sold 134,000 units for $341 million. In the quarter ended in June, sales fell to 106,000 units.

Demand for Apple’s products has fallen as the U.S. economy weakens and PC sales fall.

Apple isn’t changing the price of its most expensive PowerBook model, which is $3,997. Shares of Apple rose 76 cents to $18.57 on Nasdaq.