Report: 16GB iPhone price reduction from $499 to $399 by April

At least one tipster to the Apple scoop site 9to5 Mac says that within one or two months from now, the 16GB iPhone will drop in price from the current $499 to $399.No huge surprise for me. I've been predicting something like this scenario.

That move, it is claimed, will spur the dropping of the current $399, 8GB iPhone from the product line.

I'd think that while the 16GB price reduction is a lead-pipe cinch, it might make more sense for Apple to keep the 8GB iPhone alive but with a $299 tag.

And just so you know, this tipster sees a price drop of the new 32GB iPod Touch from $99 to $399- also within the next few months.