Apple Gives Early iPhone Buyers $100 Credits

Company Slashing Price of 8-GB Model to $399 from $599
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Apple is extending $100 store credits to people who purchased iPhones before the company dropped its price Wednesday.

The company hopes the measure will help to temper the angry response it was receiving from existing customers.

On Wednesday, Apple slashed the price of its 8-gigabyte iPhone to $399 from $599 just over two months after its launch, and the company said it will phase out its 4-GB model, which had been priced at $499. According to Apple, the price cut was in preparation for the upcoming holiday season.

In an open letter on Apple’s Web site from CEO Steve Jobs, the company offered the $100 rebates to customers who purchased iPhones from Apple or AT&T, which provides the connection service, and who are not receiving rebates or any other considerations.

Apple said it is on track to sell 1 million units by the end of September.

Launched in June, the iPhone is a combination of mobile phone, iPod and Internet browser. Users of the device can use Apple’s iTunes to synchronize their phone numbers and other contact information, calendars, e-mail accounts, Web-browser bookmarks, music, photos, podcasts and video.

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