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Jobs says sorry for iPhone price cut

Almost immediately after slashing the price of the 8GB iPhone and discontinuing the 4GB model, Apple boss Steve Jobs has been forced to issue an apology to the hordes of angry fans that paid out $599 to get their hands on the gadget first.

Not that they’ll get their money back. Instead, Apple will issue iPhone owners with a $100 credit voucher that can be used against any purchase in an Apple store or on the website.

“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,” said Jobs.

“Even though we are making the right decision to lower the price of iPhone, and even though the technology road is bumpy, we need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price.”

Last week, the vendor cut the retail price of the 8GB version of the handset by $200 to $399, and has discontinued the 4GB model altogether.

The price cut can be interpreted in two ways. Either sales have been too slow and the cut is intended to boost uptake of the device, or the original price generated sufficient profit over two months that the firm can afford to slash the product’s margin ahead of the roll out of upgraded models.

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