iPhone price cut angers early adopters, concerns investors
Cupertino (CA) - A $200 price drop for Apple’s iPhone may be good news for budgeted consumers, but there’s plenty of criticism to be found over the same move.
Alongside the announcement of a new line of iPods, Apple announced it would slash the price of its 8 GB iPhone from around $600 to $400.
Customers who purchased an iPhone at full price in the past 14 days can still get a refund on the difference, but earlier adopters have to swallow the price for jumping in early. James Kendrick, who blogs about the consumer electronics market, wrote that Steve Jobs "had this to say to you the faithful- the 8 GB iPhones will now cost just $399, a whopping $200 drop from the $600 you paid. Take that and like it ! Don’t you feel so used ?"
Apple’s stock price also fell down as a result of the price cut, plunging $8.41 yesterday to $135.75.
With the iPhone’s launch just a couple months ago, at the end of June, the price cut is extremely early. That’s especially true for Apple, which has usually kept prices constant for at least a year after introducing a new product.