Apple Denies Cash, Gift Cards for iPhone Purchases
October 29, 2007 9:42 AM
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If you want to purchase an iPhone from an Apple Store, forget about using cash or a gift card.
Apple is stepping up its efforts to limits resellers from getting their hands on the popular iPhone. Apple wants to crack down on those who buy, unlock and then resell iPhones to consumers.
Of the roughly 1.4 million iPhones that have been sold since its
introduction in late June
, Apple COO Tim Cook estimates that 250,000 iPhones have been purchased by customers who have the intention of unlocking the phones.
"Customer response to the iPhone has been off the charts, and limiting iPhone sales to two per customer helps us ensure that there are enough iPhones for people who are shopping for themselves or buying a gift," said Apple spokeswoman Natalie Kerris. "We're requiring a credit or debit card for payment to discourage unauthorized resellers."
no longer be an acceptable form of payment for iPhones
and Apple has also reduced the purchase limit from five iPhones per person to two.
Engadget is reporting
that Apple has gone one step further than just denying cash customers. Apple is also denying the use of Apple Gift Cards to purchase iPhones. For those looking to get a stack of Apple Gift Cards for Christmas to put towards the purchase of an iPhone; you may want to rethink that idea.
Apple recorded 67 percent higher profits for Q3 2007 thanks in part to the iPhone. Apple's crackdown on resellers and those who wish to
unlock the iPhone
is no doubt a measure to protect the steady cash flow from AT&T.
According to Piper Jaffray analyst Gene Munster, AT&T is paying Apple an
average of $18 a month for each iPhone customer
. In other words, Apple receives $399 for each iPhone sold plus an additional $432 over the course of a two-year contract thanks to AT&T's exclusivity arrangement.
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Wow I didn't think a company could do that to be honest...
10/30/2007 2:02:47 PM
I'm not being a smart ass with this I'm dead serious and I genuinely did not realize a company could do such a thing. For whatever reason I thought bargaining instrument that is legalized and backed by legitimate national government (in my case the federal government of the United States and the US dollar as the instrument) - I though a company HAD to accept that as form of payment if that's what the customer presents. I mean right on the "paper" it states "This note is legal tender for ALL debts public and private". How can a company refuse legal currency?
Outside of that interest - this story means nothing to mean because I think the I phone is ridiculous overkill for a "phone" and the price is insane.
"This week I got an iPhone. This weekend I got four chargers so I can keep it charged everywhere I go and a land line so I can actually make phone calls." -- Facebook CEO Mark Zuckerberg
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