When Apple rolled out the heavily hyped iPhone in June it cost a hefty $599. But it dropped the price to $399 on Wednesday, hoping to increase holiday sales. Apple wants to ship 10 million iPhones by the end of 2008. It hasn't released sales figures, but analysts say the price cut isn't that unusual in the competitive cell phone business. That's probably not much comfort for early buyers who paid top dollar. They've flooded Apple support forums with hate mail. The price cut wasn't supposed to be Apple's biggest news on Wednesday. CEO Steve Jobs also unveiled the latest music player, the sleek iPod Touch, which bears a striking resemblance to the iPhone.
Apple Slashes Price of iPhone by $200
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