Apple counters iPhone price cut with rebate for existing customers
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By Ned Randolph -- Video Business, 9/6/2007
SEPT. 6 | A day after announcing a $200 price cut for the iPhone, Apple CEO Steve Jobs posted an apologetic open letter to existing iPhone customers offering a $100 rebate of store credit.
"I have received hundreds of e-mails from iPhone customers who are upset about Apple dropping the price of iPhone by $200 two months after it went on sale," Jobs stated.
He defended the decision to lower the price saying that all Apple customers would benefit by making the product more affordable. But he added: "we need to do a better job of taking care of our early iPhone customers as we aggressively go after new ones with a lower price. Our early customers trusted us, and we must live up to that trust with our actions in moments like these."
Details about the store or online credit are still being worked out, but Jobs said they will be posted on Apple's Web site next week.
Jobs yesterday unveiled a new iPod Touch, which looks identical to the iPhone and offers all the same features minus phone service. Along with that announcement, Jobs revealed the iPhone price reduction, which sent early adopters of the device to the Internet.
"This is life in the technology lane," Jobs said. "If you always wait for the next price cut or to buy the new improved model, you'll never buy any technology product because there is always something better and less expensive on the horizon."
