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January 28, 2002 12:05 PM PST

Gateway lowers prices

Acting on its promise to cut prices, Gateway on Monday introduced several lower priced machines and said it is cutting the price of most laptops by $100. CEO Ted Waitt told analysts last week that the company would chop prices in an effort to regain lost market share. He said the company would introduce a $999 laptop with DVD player and a $499 server, both of which the company did Monday.

The Poway, Calif.-based PC maker plans to boost its marketing budget, with a blitz planned to coincide with the Winter Olympics. Waitt plans to discuss that effort at the Goldman Sachs Technology Conference next week.

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