iPhone Price Cut Leads to Sales Jump
Apple’s recent $200 price cut for the iPhone did wonders for sales of the product, causing them to triple in the first five days after the announcement, DailyTech.com reported, citing figures from a Piper Jaffray analyst.
Analyst Gene Munster surveyed Apple stores over a 90-hour period, and found that the company had sold 27,000 iPhones between Sept. 5 and 9, a threefold increase over its previous figures. Apple sold the 1 millionth iPhone this week, beating out its own projections three weeks early.
In conjunction with the release of the new line of iPods, Apple announced a $200 price drop for the iPhone early last week. When early adopters cried foul, CEO Steve Jobs announced a $100 Apple Store credit for early adopters.