In a related story here on iPod Diva yesterday, it seems that Apple may be kicking off their rumored price cuts. Although we have yet to see the slashed prices on the iPhone and iPod Touch, Apple has made a price cut on the 1Gb iPod Shuffle.

The price for the iPod Shuffle dropped $20, from $69 to $49, which is about a 38% price cut. The new prices are already reflected on Apple’s website. Leading retailers also have the 1Gb iPod Shuffle price cuts reflected.

Apple also announced that they will be releasing a new 2Gb version of the iPod Shuffle. The 2Gb iPod Shuffle will hold up to 500 songs and will carry the same features as the 1Gb model. For $20 more, you can buy Apple’s soon to be released 2Gb iPod Shuffle which will be priced at $69.

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