PCs get price cuts to make way for new models. (HP, Compaq introduce new desktop and notebook machines, cut prices of older ones)(Brief Article)(Product Announcement)

As night follows day, major PC and notebook vendors announced last week price cuts on older systems and product introductions of more powerful units.

Compaq Computer Corp. announced the LTE 5400 notebook PC, with a 150-MHz Intel Pentium processor, to round out the top end of the company's LTE 5000 line.

The LTE 5400 also features a 12.1-inch Super VGA color display, a 2.16GB hard drive, 512KB of Level 2 cache, and 32MB of RAM, as well as an optional six-speed CD-ROM drive, officials said. The LTE 5400 is priced at $5,499 and available now.

The company also announced price cuts of as much as 21 percent on its Armada 1100 notebook family and lowered prices by …