Apple has reached an agreement to standardise pricing across Europe. Price cuts will take place to its iTunes online music service within the next six months. This is mainly as a result of violating EU legislations to provide a standardised pricing with many european countries in which price drops have already taken place. These countries include Austria, Belgium, Denmark, Germany, Finland, France, Greece, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Sweden, Switzerland and Spain.

However, this may not be as simple as it seems. Because:

Apple currently must pay some record labels more to distribute their music in the UK than it pays them to distribute the same music elsewhere in Europe. Apple will reconsider its continuing relationship in the UK with any record label that does not lower its wholesale prices in the UK to the pan-European level within six months.

It would be interest to see within the next six months if some currently existing labels turn up missing from the European version of iTunes.

Click here to read the full annoucement from Apple…

[via Engadget]