Lessons Learned From the iPhone Price Cuts
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What consumers and companies should have learned from the recent Apple iPhone price cuts and subsequent backlash.
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Remember a couple of weeks ago when Steve Jobs took the stage and announced a $200 cheaper iPhone. That was pretty bad. And an iPhone that's just an iPod. Who needs that! The new Nano sure is cute, but cute insn't enough. I have a 1.5 year old 60GB video iPod that still works (sorry Steve) and I never use the video, so the $300 I have burning a hole in my pocket for my monthly Apple impulse buy (above and beyond the new Mini I bought last week) is going to (drum roll please) Nokia!  Yup, my next iPod/iPhone-alike thingy isn't even from Apple and it runs Linux, and comes highly recommended by geeks everywhere. I just put in the order on Amazon, I'll let you know how cool it is in a few days.  PS: This is my way of thanking Ben Bernanke for the huge windfall I got in the stock market yesterday and today. I think the 1/2 percent drop in interest rates is supposed to make us go out and buy stuff to stimulate the economy. Just doing my part Uncle Ben!
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Apple Inc  on Wednesday  said the company was cutting the price of its iPhone and was on  track to sell one million phones before the end of September.
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(InfoWorld) - Consumers aren't willing to pay what AppleÂ may ask for theÂ iPhone, but if the price drops they'll switch their mobile service to AT&T in order to get it, according to results of a survey released Thursday. Online market research firm Compete Inc. surveyed 379 people in the U.S., most of whom had heard of the iPhone and have shopped for an iPod, to find out how interested they are in the device to produce the uncommissioned report. The iPhone is a combined music player and cell phone that Apple plans to start selling in the U.S. in June. Among the 26 percent of respondents who said they're likely to buy an iPhone, only 1 percent said they'd pay $500 for it. WhenÂ Apple introduced the iPhoneÂ in January, it said it would cost $500 on the low end. Forty-two percent of those who said they're likely to buy the phone said they'd pay $200 to $299. The iPhone will be available only to subscribers of Cingular Wireless, now part of AT&T. In a blow to the operator's competitors, 60 percent of those in the survey who said they were likely to buy the phone said they'd switch their mobile operator in order to get it. While the iPhone has been discussed as a competitor to other handsets like Research In Motion's BlackBerry, the two serve very different markets, said Andy Neff, an analyst at Bear Stearns who participated in a conference call to discuss the results of the study. "Even though there's talk about this as an alternative to RIM, it's not a corporate product," he said. Instead, the iPhone is an indication of a broad shift toward smartphones and the emergence of niches within the category, he said. The analysts were split on what price they think the device will ultimately retail for. Operators recently haven't been discounting phones in the similar price range as the iPhone, said Phil Cusick, an analyst at Bear Stearns. However, Apple has been known to announce a product with one price and ultimately sell it for less. Apple TV, for example, was expected to cost $399 but sells for $299, he said. The phone may start out around $500 because early adopters will pay that, said Neff. But pricing will likely drop by $100 to $200 to target the mass market, he said.
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Apple offers compensation to customers who have already bought an iPhone after the firm cut $200 off the price.
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Apple added two new products to its line both at $499. This sets the stage for the price cuts later this year.
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Dignity restored for $111.87 Analysis Friday was one of life's great days: I returned my iPhone. I was tired of Apple's adult-proof keyboard. I was tired of AT&amp;T's piddling wireless network. But most of all, I was embarrassed that I'd bought the thing in the first place.â¦
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Apple's 33 percent price cut on top-of-the-line iPhones yesterday took many observers by surprise. Here's why it may not have been such a smart move.
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The controversy around Apple's iPhone price cuts seems suspiciously calculated.
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Apple Inc. chief executive Steve Jobs disclosed a host of major upgrades to the popular line of iPod music players during a news conference in San Francisco yesterday. But then Jobs topped himself with an unexpected bombshell - a $200 price cut on the new iPhone cellphone.
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Apple Inc.'s iPhones will carry a luxury price tag of $499 or $599 when they go on sale Friday. But the monthly cost for using the new wireless phone will be squarely in the middle of the road.
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Apple hit its target for iPhone shipments a few weeks ahead of schedule, and one analyst thinks the price cut accounted for more than 100,000 sales last week and into the weekend.
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With lines snaking around Apple stores and hype in overdrive, the iPhone seemed like a good investment &#151; not for keeping but for reselling.
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Apple did the right thing from an economic standpoint with its iPhone pricing this year, if not from a PR view of the world.
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Apple's price drop may look like a preemptive holiday strike, but is it really the result of struggling sales figures?
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If you thought the iPhone was overpriced, stop reading this story now.
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Blog: We've already seen that waiting in line for an iPhone wasn't really necessary. As a result, the profit margins aren't too great.