ANALYST VIEW: Apple unveils new iPhone and 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 (100 pounds) 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.