Yesterday, Steve Jobs announced a $200 drop in the price of the iPhone. Some people are claiming it's because it wasn't selling. Others are claiming it's unfair to the people that already bought one (although I'm still waiting for someone to claim the original price was "price gouging"!)
I'm with John Gruber:
Apple didn’t cut the price because demand is low — they set the debut price ridiculously high because demand was ridiculously high. I suspect that for the first few weeks, they were selling iPhones as fast as they could make them. Apple’s being aggressive, not defensive. (And for those of you who’ve already bought one and are pissed about the price cut, if you didn’t think the iPhone was worth $599, you shouldn’t have bought it. That’s how supply and demand works.)
Nicely put, John.
UPDATE: So, Steve Jobs has now said he'll refund $100 to existing iPhone owners. His open letter makes an excellent point, though:
There is always change and improvement, and there is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever. This is life in the technology lane. If you always wait for the next price cut or to buy the new improved model, you'll never buy any technology product because there is always something better and less expensive on the horizon.