Apple Inc. announced Tuesday that its iTunes online music store will music from major record labels which is free of digital rights management or copy-protection for as little as 69 cents.

The announcement was made by Senior Vice President Phil Schiller during the company's final presentation during the Macworld trade conference. He said that iTunes song prices will come in three prices starting from 69 cents, 99 cents and $1.29.

Apple said the record companies select the prices customers will pay, according to a press release accompanying the announcement.

Apple shares dropped $1.18, or 1.3 percent, to $93.40 in afternoon trading.