$100 Credit for Angered iPhone Buyers

After announcing a $200 reduction in the price of its iPhone, Apple responded to angry reactions from its existing customers by offering them a $100 credit. Those unlucky early adopters will be able to use the money at an Apple store, or its online market.

CEO Steve Jobs says the price cut is part of a pre-holiday push, an effort to make the device available to more people. Others think the move may be a result of Apple falling behind in its sales goals. Jobs posted an open letter on the Apple site explaining the price change, but it's hard to tell whether he's really writing to his beloved customers or the stock analysts questioning his logic. There's also a weird paragraph that basically says, "Hey, this is what happens with technology. You should know that." Read the letter here.—Gregory Mone