Apple today released the smaller capacity iPod nano, slimming it down to 1 GB. Like its big brothers, the nano will have a high resolution screen that can display album information including album art all for $149. The smaller nano will hold up to 240 songs or 15,000 photos. Apple will keep the shuffle 512 MB and 1 GB units around but drop the price down to $69 and $99 respectively.

“Now everyone can afford an iPod nano, with our new 1GB model starting at just $149,”said Greg Joswiak, Apple’s vice president of Worldwide iPod Product Marketing. “The iPod is the world’s most popular digital music player with over 40 million sold, and now even more music lovers can experience the unrivaled combination of iPod and iTunes.”

The 1 GB iPod nano can be found at all Apple Stores, online, and at authorized retailers such as Target. All iPod nano models include earbud headphones, a USB 2.0 cable, case and a CD with iTunes for Mac and Windows computers.

Tags: nano, ipod, shuffle, 1 gb, lower price