Apple Sells 1 Millionth iPhone

Apple Inc. introduced the iPhone on June 29th and was immediately popular for its combination of functions as a mobile phone, widescreen iPod, and internet appliance. Plus the coolest part is that it operates completely by touch-screen. Now just 74 days later, Apple sells its millionth iPhone. By the same token, it took Apple two years to achieve the same milestone with the iPod.

Then with all of that, Steve Jobs and Apple executives came under fire for slashing the price of the iPhone by $200 on September 5th. This brings the 8GB unit price down from $599 to $399, (taking the 4GB unit completely off the shelf). The stock price slumped by 5% but has since recovered some of those losses but some still ask, "why?" Why drop the price of a product that is selling well?

Some thing that the sales were seen to slump on the horizon due to security issues that still seem as yet to be unresolved. Others believe that the reason for the price cut was to bring it more in line with the new iPod Touch that does everything that the iPhone does in the same way, except makes calls. Ultimately, most believe that Apple did the right thing in coming back to past customers with a $100 credit to keep those first iPhone buyers happy.