Apple cuts 8GB iPhone price to $399, Early Adopters of $599 phone left crying in streets.

Just after two months of its release, Apple has cut th price of the most hyped cellphone in the history of technology, the iPhone, by 33% from $599 US (~24,500 INR) to $399 US (~16,300 INR). We all know that technology gets cheaper with time, but this is ridiculous!

Those who were having second thoughts due to the high price tag of the iPhone will surely be much more willing to get one, but people who waited outside Apple stores for days on end to be the first in line to get one could be feeling ripped off.

Indians won't get to have one at least until a couple of years (unless they can get from the gray market). However, Rs. 16k for a touch-screen cellphone with an in-built iPod, not to mention dozens of high-profile websites having custom versions for just this phone, is as much bang-for-the-buck as it gets!

Source: Engadget

Update: After receiving 'hundreds of' emails from upset customers, Apple has 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. In an open letter to all iPhone customers, Steve Jobs justifies the price drop, saying that Apple is using the price drop to 'really go for' a wider customer base this holiday season.