San Francisco - Apple (NASD: AAPL) on Tuesday announced the launch of iTunes Movie Rentals, a new service that will feature titles from all the major movie studios, available within 30 days of their DVD release and priced at $3.99 for new releases and $2.99 for library titles. HD titles will cost $1 more in each category, and consumers will have 30 days to begin watching their rentals, which will expire 24 hours after viewing begins.

Apple plans to offer over 1,000 titles, including 100 available in HD, by the end of February.

The movies can be viewed on a PC or Mac, iPod, iPhone or Apple TV — the company’s computer-to-TV adapter, which Apple on Tuesday lowered in price to $229 while introducing new software for the device.

Apple CEO Steve Jobs introduced iTunes Movie Rentals during his address at the Macworld trade show in San Francisco on Tuesday, which also included the introduction of a thin notebook, the Macbook Air, and the revelation that the company has now sold 4 million iPhones worldwide.

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