AAPL said it will give every existing iPhone customers $100 store credit. The stock has dropped over $2.00 since the headlines were published...
Highlights from Steve Jobs' letter to iPhone customers are as follows:
"I have received hundreds of emails from iPhone customers who are upset about Apple dropping the price of iPhone by $200 two months after it went on sale. After reading every one of these emails, I have some 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. iPhone is a breakthrough product, and we have the chance to 'go for it' this holiday season. iPhone is so far ahead of the competition, and now it will be affordable by even more customers.
It benefits both Apple and every iPhone user to get as many new customers as possible in the iPhone 'tent'... Our early customers trusted us, and we must live up to that trust with our actions in moments like these.
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.
Details are still being worked out and will be posted on Apple's website next week. Stay tuned. We want to do the right thing for our valued iPhone customers.
We apologize for disappointing some of you, and we are doing our best to live up to your high expectations of Apple."
ron
wallstreetpit.com/forums
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