Jobs, Apple (AAPL) issue $100 apology to iPhone buyers

September 06th, 2007 | Category: Stocks

Acting quickly in response to the uproar from those who queued June 29th to snatch up the iPhone at nearly $600, only to see Apple Inc. (NYSE: AAPL) drop the price by $200, CEO Steve Jobs nowadays issued a public apology. increasingly importantly, he plus announced those buyers would get a $100 credit at Apple’s brick-and-mortar and virtual stores.

Jobs said that the company expects to sell the one-millionth iPhone by the end of that quarter, which makes me wonder why they dropped the price so dramatically and

so quickly. Certainly they should have predicted the outcry from early adopters that felt they had been fleeced. In essence, these customers paid $100 to have the phone by the two months amoung product launch and the price drop. Was it worth it?

The market took a similar bite out of Apple to the one it took out of its customers, as the shares fell $1.75 to shut at $135.01.

Original post by Tom Barlow

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