It didn’t take Apple CEO Steve Jobs long to reverse his dismissal of complaints about the new iPhone discount from the first consumers to buy the gadget. He apologized and instituted a $100 credit for those who don't fall under the 14-day refund period. Jobs had told early buyers “that’s life in the technology lane"— but backpedaled after hundreds of angry emails.
Since announcing the $200 price cut, the company’s stock dropped 6 percent over two days, costing shareholders $8 billion, according to AP. Apple wouldn’t say how costly the credits would be, but officials hoped the gesture would appease die-hard supporters. “Our early customers trusted us, and we must live up to that trust," said a spokesman.