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Apple slashes $200 off iPhone; analyst says its good

by Marvin Sum on Sep 8, 2007 at 11:54 AM

iPhone $399

Gene Munster, senior analyst at Piper Jaffray has argued that the iPhone’s price drop to $399 does not indicate Apple’s desperation to sell 10 million iPhones in 2007. Rather, this move is supposed to help gain a more significant long-term market share in the cellphone market. The Cupertino-based company self-imposed this figure during MacWorld earlier this year.

Apple on Wednesday announced a $200 price cut in the iPhone, much to the horror of some early adopters. However, Apple honcho Steve Jobs decided to quickly reimburse these unlucky buyers with $100 worth of store credit, in an open letter written to all iPhone owners.

Read [AppleInsider]

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