Microsoft Prices Surface Starting at $499 to Rival IPad

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Microsoft Corp. will sell its first computer, a device called Surface RT, for as little as $499 as the software maker pushes into the tablet market dominated by Apple Inc.’s iPad.

The first iteration of the device, powered by a chip with technology from ARM Holdings Plc, will be available as a 32-gigabyte model for $499, the company said in a statementBloomberg Terminal. With a black cover, it will cost $599, and a 64-gigabyte version will be $699. The machine goes on sale Oct. 26, and Redmond, Washington-based Microsoft will take a limited number of early online orders starting at 12 p.m. New York time today.