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Quick Take: Jobs Still Shrewd After All These Years

Leave it to Apple (Nasdaq: AAPL  ) CEO Steve Jobs.

Just when we Fools thought the iEmpire had blown it by cutting the price of the iPhone two months after its introduction, Mr. Mac pens an apology and makes amends. Quoting:

We need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price. Our early customers trusted us, and we must live up to that trust with our actions in moments like these. Therefore, we have decided to offer every iPhone customer who purchased an iPhone from either Apple or AT&T (NYSE: T  ) , and who is not receiving a rebate or any other consideration, a $100 store credit toward the purchase of any product at an Apple Retail Store or the Apple Online Store. [Emphasis mine.]


Here's why. First, it calms the angry crowd. Second, it gives them back nothing. Store credit is what it says it is. Want to use it? Buy something. Something that costs more than $100. (Unless, of course, your only interest is iTunes.)

Third and finally, if these posts on the Unofficial Apple Weblog are any indication, most is forgiven. Which, in turn, means that any hopes Palm (Nasdaq: PALM  ) or Research In Motion (Nasdaq: RIMM  ) had for profiting from sour Apple addicts have probably been dashed.

Actually, Jobs put it best in his letter: "iPhone is a breakthrough product, and we have the chance to 'go for it' this holiday season."

Yep. You do now.

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Tim Beyers

Tim Beyers first began writing for the Fool in 2003. Today, he's an analyst for Motley Fool Rule Breakers and Motley Fool Supernova. At, he covers disruptive ideas in technology and entertainment, though you'll most often find him writing and talking about the business of comics. Find him online at or send email to For more insights, follow Tim on Google+ and Twitter.

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