LONDON (Bloomberg) - Carphone Warehouse Group plc. and Telefonica SA's O2 wireless unit said they will cut the price of Apple Inc.'s eight-gigabyte iPhone in the UK to £169 ($331) from £269 beginning today.

Customers at Carphone Warehouse, Europe's largest handset retailer, who bought an iPhone in the past 30 days will get 100 pounds back, the company said in an e-mailed statement today. In a separate release, O2 said its offer will last until June 1.

The cuts follow a drop in price by T-Mobile in Germany earlier this month. Deutsche Telekom AG's T-Mobile unit, the exclusive distributor for the iPhone in Germany, lowered the price by as much as 75 percent in a promotion that ends in June.

Apple's price for the iPhone in Apple stores and online won't change, said Bethan Lloyd, an Apple spokeswoman in London.

Cupertino, California-based Apple fell 91 cents, or 0.6 percent, to $146.87 at 12.38pm in New York. The shares had fallen 25 percent this year before yesterday.

Carphone Warehouse fell 35.5 pence, or 13 percent, to £2.31 in London yesterday. O2 parent Telefonica rose 25 cents, or 1.4 percent, to 18.60 euros in Madrid.

Carphone Warehouse and O2 won't change the price of the 16-gigabyte iPhone. The companies will offer monthly service plans beginning at £35 a month.

AT&T Inc. is the exclusive provider of the iPhone in the US.