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Philips Mobile Computing Group reduced the price of the 4MB Velo 1, the Windows CE-based handheld PC, by $100. The Velo 1 will have an estimated street price of $600 for the 4MB unit and $640 for the same unit with a rechargeable battery pack. Both bundles come complete with the Velo Dock, an AC adapter, and a built-in software modem. The price reductions are effective immediately in retail outlets throughout the U.S.