Nice: 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