Share “iPhone price cut may get Apple new role”

iPhone price cut may get Apple new role

By Paul Monies Modified: September 12, 2007 at 7:42 am •  Published: September 12, 2007
For $200, you can barely buy one share of Apple Inc.

So who would have thought a $200 drop in the price of the iPhone last week would have caused so much hand-wringing and gnashing of teeth by Apple consumers, stockholders and analysts?

Not Steve Jobs.

In a Q&A with USA Today, his response to iPhone buyers who bought at $599 in the first two months was more akin to Marie Antoinette's "Let them eat cake” than the black-clad, technogeek consumer god image he works so hard to cultivate.

"That's technology,” Apple's chief executive said. "If they bought it this morning, they should go back to where they bought it and talk to them. If they bought it a month ago, well, that's what happens in technology.”

To give Jobs his due, he later softened his stance and offered $100 in Apple store credit to buyers who purchased in the first couple of months.

I bought my iPhone in late July, after much deliberation and a few days before my prior two-year contract with AT&T expired.

After seven weeks with it, I'm still amazed by the technology, even if AT&T's Edge data network is a little slow at times.

So I'm a little perturbed that what I thought was worth $600 a few months ago is now worth $400 to Apple.

Buyer's remorse is setting in. I feel iHosed.

I feel the pain of the "early adopters” who came out to support Apple and the launch of the iPhone at the end of June. Many stood in line overnight because they believed in the cult of Apple.

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