iPhone Price Drop $200 33% lol

[rlxhustlr]

How about apple lowering there price of the iphone? what a stupid move....my buddy works at at&t and the cutomers wanted to kill them...what dumb asses i would be so pissed if i bought the phone like two weeks before that...
then there offering store credit to people who bought them in the past 15 days! hahahaha what a joke...




isorry


IPhone owners can put away the torches and pitch forks. Apple Chief Executive Steve Jobs has heard you.

In a letter posted on Apple's (nasdaq: AAPL - news - people ) Web site today, Jobs offered a $100 store credit to those who bought iPhones from either Apple or its telecommunications partner, AT&T (nyse: T - news - people ). The credit can be used to buy products at either Apple's retail or online stores. That amounts to about three sets of iPod socks.

The salve comes about 24 hours after Jobs announced that Apple was lowering the price of its 8-GB iPhone by $200 and dropping its 4-GB model entirely. (The 4-GB model originally sold for $499; the more spacious version for $599.) Those phones went on sale just 10 weeks ago on June 29. In effect, Apple soaked its most loyal customers, who had jumped first to buy the pricey iPhones, then slashed prices by 20% to jumpstart what the company hopes will be a holiday rush.

While Jobs acknowledged receiving hundreds of e-mails complaining about the price cuts, he pointed out that falling prices have long been part of the technology industry. "There is always change and improvement, and there is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever," he wrote.

To be fair, Jobs has a point. Motorola's (nyse: MOT - news - people ) slim Razr mobile phones sold for $500 when they were introduced in 2004. Now one version of the phone can be had for $50, after a $50 mail-in rebate, to AT&T customers willing to sign up for a two-year contract.

Nevertheless, Jobs conceded that Apple needs to treat its customers with more care. "Our early customers trusted us, and we must live up to that trust with our actions in moments like these," he wrote.

The folks who should really be smarting after Wednesday's announcement are Apple's partner, AT&T. First, Apple is now offering a look-alike of the AT&T exclusive iPhone, the iPhone Touch, without a built-in phone (or the need to sign up for an AT&T contract to use it). Then it bypassed AT&T to put together its iTunes Wi-Fi Music Store. Worst of all it's partnering with Starbucks (nasdaq: SBUX - news - people ), a coffee chain, to offer free wireless access to its music store.

Apple shares fell 5% Wednesday after Apple announced the iPhone price cut. Shares fell another 1.28% to $135.01 Thursday. AT&T closed on Thursday down 8 cents (.33%) at $24.10.

Maybe a few hundred bucks worth of iPod socks will help AT&T Chief Executive Ed Whitacre feel better.