[Cody Overcash]

to all iPhone customers:

I have received hundreds of emails from iPhone customers who are upset about Apple dropping the price of iPhone by $200 two months after it went on sale. After reading every one of these emails, I have some observations and conclusions.
First, I am sure that we are making the correct decision to lower the price of the 8GB iPhone from $599 to $399, and that now is the right time to do it. iPhone is a breakthrough product, and we have the chance to 'go for it' this holiday season. iPhone is so far ahead of the competition, and now it will be affordable by even more customers. It benefits both Apple and every iPhone user to get as many new customers as possible in the iPhone 'tent'. We strongly believe the $399 price will help us do just that this holiday season.
Second, being in technology for 30+ years I can attest to the fact that the technology road is bumpy. There is always change and improvement, and there is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever. This is life in the technology lane. If you always wait for the next price cut or to buy the new improved model, you'll never buy any technology product because there is always something better and less expensive on the horizon. The good news is that if you buy products from companies that support them well, like Apple tries to do, you will receive years of useful and satisfying service from them even as newer models are introduced.
Third, 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. Our early customers trusted us, and we must live up to that trust with our actions in moments like these.
Therefore, we have decided to offer every iPhone customer who purchased an iPhone from either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store. Details are still being worked out and will be posted on Apple's website next week. Stay tuned.
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.
Steve Jobs
Apple CEO

source:
http://www.apple.com/hotnews/openiphoneletter/

thanks STE

[EasyMac30]

Here's hoping they let me use that $100 towards replacing my iPhone that got stolen...

[TOXiN]

Thanks Steve for my 200 buckaroooos :0

[slikk115]

i love you steve jobs.

[eg6motion]

now next question, for the poor 4GB folks, can we use this to upgrade

[dyeguy]

so hes offering 100 store credit to all iphone owners? that bought from att or apple? could somone clerify this

[s2kpdx]

wow, that is great news considering they really didn't have to do anything. This just furthers my liking of apple

[iphonejeff]

yea!!! Wooowhoo!!.. Love ya Steve!

[j0hnnyw3st]

oh my good golly gosh.
i wanted to kill someone

[iPhone1118]

thank you Steve!!!

[TheOrioles33]

Originally Posted by dyeguy

so hes offering 100 store credit to all iphone owners? that bought from att or apple? could somone clerify this

Which part?

I never had a doubt that Apple/Steve would do a little something. I would have been happy with a $50 iTunes card!

[Acer21]

Wow nice job steve! This is my first apple product and I have been very pleased with the quality of service. My first 2 iphone had touch screen problem and they replaced them promptly. This just re-enforces my new found brand loyalty. Nice, hmm new bluetooth headset or a really nice set of head phones.....

[sogo]

Thankyou

[Altima04onDubs]

wut a sincere n caring wonderful entrepreneur... apple fan for life.. its shockin how he considered and took us consumers in mind... steve jobs is the bestttttttttttttttttttttttttttt
yayyyyyyyyyyy

[randyg]

I am very glad to see this. I was bummed, but also knew that this is just the way life is sometimes. However, -$200...in 2 months?! Usually, a price reduction (and this includes a newer version being better for the same amount of money) comes 6 months or so later, not 2. It's a little easier to choke down after that length of time. I can definitely think of plenty of stuff to get with that $100 though!