Using the slogan 'milestone for us! NEW PRICES for you!' Canon US has confirmed several price drops across its range of lenses, including multiple L-series models.

According to Canon the price reductions are in honor of reaching a milestone - the production of 100 million EF lenses. Price drops range from a modest $40 up to $1000 off the original retail price, depending on the lens. The EF 24-70mm f/4L IS USM stands out, dropping by $500 from its original (and frankly, very high) MSRP down to a much more reasonable $999. 

These price drops seem to be permanent, and are separate to Canon's many mail-in rebate offers which had been applied to several of the affected lenses prior to this announcement (and which in some cases brought the purchase price down to at or below the updates MSRPs).