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Steve Jobs has a change of heart

Yesterday's announcement of the $200 price reduction for the 8GB iPhone was a shock to the system. No one in the industry was expecting it and customers that had already purchased the machine at the $599 price point were fuming mad. To get an idea about how angry some customers were, look no further than this thread at Mac Rumors which is 1500+ posts long.

Steve Jobs got also got an earful with irate customers and his inbox was overloaded with customer complaints about the $200 price cut after only two months on the market.  In an open letter to all iPhone customers, Steve Jobs expressed his "observations and conclusions."

"First, I am sure that we are making the correct decision to lower the price of the 8GB iPhone from $599 to $399, and that now is the right time to do it," said Jobs. "It benefits both Apple and every iPhone user to get as many new customers as possible in the iPhone 'tent'. We strongly believe the $399 price will help us do just that this holiday season."

On the flipside, Jobs was also sympathetic to the outrage expressed by existing iPhone owners. “Therefore, we have decided to offer every iPhone customer who purchased an iPhone from either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store," Jobs continued.

Jobs noted that more details will be posted next week as Apple and AT&T work out the details of the program.

$100 of in-store credit isn't exactly the same thing as $200 in cold cash, but it's surely better than nothing at all.

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Are you kidding me?
By ascian5 on 9/6/2007 4:39:42 PM , Rating: 2
This is a joke right? $100 credit? I'm too lazy to look up facts, but I believe that the average spending with a giftcard/credit is close to 2:1 for credit given. With Apple's product margins, not to mention the original and existing iphone margins, all I can do is shake my head at people who accept this as contrition.

Not to mention, wtf do you buy from apple for $100?

RE: Are you kidding me?
By bhieb on 9/6/2007 5:51:42 PM , Rating: 2
No kidding isn't the whole point of the iPhone that is does everything already. Don't need an iPod, Laptop, or phone that is why they charged you $600 anyway right? /sarcasm

RE: Are you kidding me?
By Scott66 on 9/6/2007 8:06:32 PM , Rating: 2
You can buy a quality office suite for you and 4 other members of your family. 101 songs

"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
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