Apple yesterday announced that it will cut prices at its iTunes music store, offering selected tunes as low as (US)$0.69, others at the former flat rate of (US)$0.99 and still others (new releases?) at a premium rate of (US)$1.29.

But the big news may be that Apple is also removing its controversial digital rights management (DRM) technology from all tunes, which will allow buyers to freely transfer their tunes from one device to another — something iTunes fans have been clamouring for for ages.

The multi-tier price structure was a concession that Apple made to record labels in return for their permission to remove DRM from their products. The price changes will come in over the next few weeks and DRM should be gone from all 10+ million tracks in the iTunes library by the end of March.