Amid a slow market for handhelds and price pressure from rivals, Hewlett-Packard is launching a cheaper low-end version of its iPaq handheld. The slim h1935 is similar to the $299 (£190) h1945 model introduced in June, although without that device’s built-in Bluetooth wireless capability. The new model, which will sell for $199 after a $50 rebate, has only half as much read-only memory (ROM) and comes with just a 90-day warranty, compared with the one-year warranty that comes with other iPaq models. HP’s introduction of the new model, which is similar to one already selling in Europe and Asia, comes after the company reported disappointing earnings, including a return to red ink for the business unit that encompasses PCs and handheld computers. Handhelds have been one of the company’s strong suits, thanks to the iPaq brand Compaq established. However, rivals such as Dell have been making inroads, due in part to lower prices.