LOS ANGELES » Time Warner Cable Inc. is doubling the Internet speeds of its fastest product and more than halving the price of its lowest-speed product to compete with its telecom rivals AT&T and Verizon.

The nation’s second-largest cable TV provider is now doubling the download speed of its top-tier "Ultimate" service to 100 Megabits per second. The new speed upgrade is being rolled out now to customers in Los Angeles and Hawaii and will come to New York City by the end of the year. The "Ultimate" tier costs $105 per month without promotional pricing.

On the bottom end, the New York-based company is doubling the download speed of its "Lite" product to 2 Mbps and dropping the price without promotions to $15 per month from $35 per month.