Early Adopters Yowl as iPhone Price Drops

Apple's $200 cut riles consumers, keeps rumor mill working overtime
By Sam Gale Rosen,  Newser Staff
Posted Sep 6, 2007 9:43 AM CDT
Apple employees cheers as an excited customer leaves the Apple Store with his new iPhone in this June 29, 2007 file photo in New York. (AP Photo/Jason DeCrow, file)   (Associated Press)
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(Newser) – Folks who ponied up for the first iPhones are angry that Apple has slashed prices by one-third only 2 months after unveiling them. Fuming over the $200 cut threatens to eclipse yesterday's iPod news, the Times of London reports. “Steve Jobs owes an apology to the million or so loyal fans who shelled out full price,” writes one tech blogger.

Apple shares fell on investors' worries that the price cut, which one analyst called "sooner and deeper than we expected," signals that the gadgets aren't selling as briskly as expected. A blog advises shoppers who paid full price that they might be able to return their phones for a refund, then buy another at the new price.