sennheiser I cant fault them sound qauality wise tbh.
have you looked into Skullcandy (cant belive im typing that lol)
but for 40 they do an ok set come in loads of different colours to.
is it actual earphones or headphones your after as both things are different mate
.
Bose do a range of Earphones think there called Triport!
or what about Denon AH-NC600 maybe a bit over your price range though but I really cant remember what they go for if im been honest.
Sennheiser CX 400 II
http://www.amazon.co.uk/Sennheiser-C...155979&sr=1-16
id suggest clicking on the link below and just go through the earphones here.
http://www.amazon.co.uk/s/qid=125615...ords=earphones