The iPhone Price Cut: Is it Fair?

Wednesday, at the recent Apple’s “The Beat Goes On” event in San Francisco, Apple announced several things that were news worthy. The most controversial has to be the price drop of the 8GB Apple iPhone by $200 to $399 and the 4GB drop of $200 to $299. Now several of the “Early Adopters” to this technology are at a loss.

The price drop is also said to be a driving force to increase sales over the next 3 weeks to hit the previously stated goal of over 1 million phones by the end of September. Price cuts will also increase sales over the holiday season at which time several other devises will inevitably hit the market and increase competition for Apple.

With many people in an uproar regarding the drastic price adjustment, Apple CEO Steve Jobs apologized on the Apple website and is offering a $100 credit to those who spent $599. So that’s great, right? There’s a catch…the credit is good only for those who aren’t eligible for a rebate.

So, what do you think? Does being an early adopter come with a price?