ANALYST VIEW: Apple unveils new iPhone, cuts price

NEW YORK (Reuters) - Apple Inc on Monday unveiled a next-generation iPhone with faster Internet access and satellite navigation capabilities.

The new entry-level iPhone will cost $199 with 8 gigabytes of memory, compared with the $399 price of the older-generation phone with similar memory. A new device with twice the memory will cost $299 and go on sale in 22 countries on July 11.

Here are some analysts' reactions:

SHANNON CROSS, ANALYST, CROSS RESEARCH

This positions Apple well vis a vis other smart phone competitors such as Nokia and RIM.

iPhone is no longer an expensive device. It's now priced at the mass market.

DUNCAN STEWART, PRESIDENT, DUNCAN STEWART ASSET MANAGEMENT

IN TORONTO

Apple shares will go down because there has been so much hype built into them, that it's almost impossible for the iPhone to exceed or surpass expectations. It can only meet them.

BEN WOOD, RESEARCH DIRECTOR OF UK-BASED CCS INSIGHT

The distribution footprint is impressive. That's just a phenomenal ramp-up that Apple will have to manage now.

If it was any other phone manufacturer it would be regarded as a refresh of a successful product.

This is the logical next step for the iPhone and I think it is a reflection of the highly competitive market Apple has now entered.

Repeating the wow experience that iPhone one delivered was always going to be impossible."

It (Mobile Me) clearly puts them in a competitive position on the services side against Google, Microsoft and most importantly Nokia."

It is still very much a consumer-centric product.