updated 02:00 pm EDT, Mon September 24, 2007
Woz on iPhone price drop
Apple co-founder Steve 'Woz' Wozniak says company CEO Steve Jobs' decision to slash the price of its recently-launched iPhone nearly two months after it hit store shelves was "too soon" and "too harsh." "Nobody expects a product to drop that much in price in such a short time," Woz said. "Steve Jobs and everyone expects technology to drop in price. The first adopters always pay a premium. I am one of them. I am used to that. But that one was too soon, too harsh." Apple's chief unveiled the iPhone in January at the Macworld Conference & Expo in San Francisco, and the device hit selves in late June. Jobs slashed the iPhone's $599 price down to $399 in one fell swoop during a special event on September 5th, angering early adopters and prompting the executive to announce a $100 Apple Store credit for those customers who eagerly purchased the device just after launch.