Apple sells one million iPhones

Written by Phil Cogar

September 12, 2007 // 7:34 a.m.

Tags: #apple #iphone #price-cuts #steve-jobs

Love it or hate it, Apple's iPhone is a popular product. It has constantly been in the news even before the launch. From speculation dating back to June in last year to the announcement before the launch all the way up to the launch itself and subsequent hacks and unlocks since then, the iPhone is everywhere you turn when you read the news.

Pretty soon, it will literally be everywhere you turn as well with more then one million of them being sold since the initial launch day just 74 days ago.

Momentum isn't going to slow down either though, because right after Apple introduced its iPod Touch, Steve Jobs made a big announcement concerning the biggest drawback to the mobile... its price.

Apple has lowered the price on the 8GB iPhone model to $399 (down from $599) matching the price of the top end 16GB iPod Touch model. Consumers who had dropped the massive wad of cash for the mobile before the price drop are to receive $100 in store credit from Apple but the credit will not be applicable to the iTunes music store. Details about how to obtain the store credit should be coming soon and we'll make sure to let you guys know how to get it.

The price drop came as a major shock to share holders as well with Apple's stock falling from $145 a share to a low of $130 a share within 48 hours of the price change. The company's stock is slowly climbing back up and this more then likely won't have much of an effect over the long run. Consumer electronics are expected to have a drop in price over time but apparently a price drop just two months after launch tends to shake things up a little bit.

Did you purchase one of those million iPhones? Talk about your love (and hatred for some) of the popular mobile over in the forums.

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