Apple fails to impress investors with iPhone price cut

Apple fails to impress investors with iPhone price cut

Apple shocked the market by announcing a USD 200 price cut on their recently launched iPhone mobile phone device.

It was not like the iPhone was failing to sell with its high price but the company said that they aimed to put iPhones in the hands of more US customers with this price cut.

Apple iPhone has been a major hit for the company outselling all the other smartphones in the US market.

However, the company has failed to impress their investors as the company’s stock received a thrashing from Wall Street over the last three days.

Analysts have also said that the price cut indicates that the iPhone was priced a bit too high for comfort and the company had to resort to this cut to broaden the appeal.

Apple CEO Steve Jobs had this to say on the price cut: “It benefits both Apple and every iPhone user to get as many new customers as possible in the iPhone tent.”