While some were understandably thrilled by Apple's announcements yesterday, some early iPhone customers felt like they'd been wronged. Of course, Apple announces upgrades and lowers prices without warning frequently, but these customers weren't expecting such a huge drop in price ($200 for the 8-GB model; the 4-GB model has been discontinued) just two months after the launch.

Those customers, previously Apple devotees, made their feelings known. In response, this afternoon Steve Jobs announced that all users who purchased an iPhone before the price drop would be eligible for a $100 credit, good at Apple stores and on iTunes. Additionally, if you've purchased an iPhone in the past two weeks, you're eligible to get a $200 refund. Apple lovers everywhere (including the editor of this blog), can breathe a collective sigh of relief, knowing that Apple will do the right thing — when it's facing PR disaster and a falling stock price.
— S.E. Kramer

Via Apple