After the price of an 8 GB iPhone was reduced to $399 from $599, CEO Jobs agrees to give store credit to those who paid the original price.

September 6 2007: 4:50 PM EDT

NEW YORK (CNNMoney.com) — After receiving hundreds of emailed complaints from existing Apple iPhone customers angry about a steep price drop, chief executive Steve Jobs says the company will give certain customers who bought the gadget at its original price a $100 credit.

Customers who purchased an 8 gigabyte iPhone before Apple Inc. lowered its price to $399 from $599 will receive a $100 credit toward any purchase at an Apple retail store or on its Web site.

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