The industrywide slowdown in PC sales has taken a bite out of Apple as well. After warning of disappointing first quarter financial results last month, Apple this week started the new year with deep price cuts across its lines of desktop and notebook systems. Thecompany trimmed more than £700 from the price tags of its systems. Entry-level prices for Apple's PowerMac G4 Cube were slashed from £1,249 to £999. The high-end 500Mhz G4 Cube with 256MB SDRAM (synchronous DRAM) memory is now priced at £1,799. The PowerMac G4 is priced ranging from £899 to £1,799. The company also cut prices on its notebook lines. The 500MHz PowerBook was reduced from £1,899 to £1,599. The current price cuts follow promises from Apple executives last month to reduce channel inventories to normal levels and make room for new products and programs Apple will be rolling out in 2001. Additionally, Apple is expected to introduce new products next week at the Macworld Expo conference in San Francisco - Digit will be covering the event live, so be sure to visit every day next week. When the company released the profit warning in early December, Apple officials cited slower-than-expected sales during October and November as well as lower-than-expected channel sell-through and unplanned sales promotions and pricing actions. Official quarterly results, which Apple officials expect to include a net loss of between $225 and $250 million (around £175 million), will be announced on January 17. Apple CEO Steve Jobs said in the earnings press release that it will be the company's first non-profitable quarter in three years.