Many people anxiously waited in long queues to get Apple Inc.'s newest gadget – iPhone and paid a lot for it. Eventually, Steve Jobs concluded that such loyalty worth 100 bucks.Today, Apple Inc. CEO Steve Jobs apologized and offered $100 credits to people who shelled out up to $599 for an iPhone this summer and were burned when the company chopped $200 from the expensive model's price.
Let’s get into Steve Jobs character. Why the heck he did this to many loyal fans of Apple?
Here is very clear answer. He came up with that decision to reach the goal of selling one million phones by the end of September. So the lower price of the gadget will undoubtedly boost sales.
Was it needed?
The company said that it was pocketing 55% gross margins from the product. So the price reduction was completely justified.
But to offer such a sudden reduction only two months after the initial launch, the company must be desperate to clear the phones off its shelves. It finally shows that Apple is not unbreakable after all.
The future?
I reckon that there could be less craze over future Apple releases, which could result in fewer initial sales. The early adopters who set the trends will less likely be among the first to try out new products.
I truly think Apple chose the wrong direction to get more customers and the way to reach this tentative goal.
Top Heads of Apple Inc. (AAPL)
| Name | Age | Position |
| Peter Oppenheimer | 44 | Chief Financial Officer, Principal Accounting Officer, Sr. VP of Fin. and Corp. Controller |
| Philip W. Schiller | 46 | Sr. VP of Worldwide Product Marketing |
| Ronald B. Johnson | 48 | Sr. VP of Retail |
| Steve P. Jobs | 51 | Co-founder, Chief Exec. Officer |
| Timothy D. Cook | 46 | Chief Operating Officer |
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