Contrite Jobs Offers $100 iPhone Credit

So sorry he dismissed price-cut complaints from first buyers
By Kevin Spak,  Newser Staff
Posted Sep 7, 2007 6:06 AM CDT
Apple Inc. CEO Steve Jobs talks about the pricing of the Apple iPhone in San Francisco, Wednesday, Sept. 5, 2007. Jobs apologized and offered $100 credits Thursday to customers who shelled out $599 for...   (Associated Press)
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(Newser) – 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.