Apple slashes 8GB iPhone price by $200

Those 4GB iPhones just became collector’s items. Apple dropped the 4GB version of its mobile phone and slashed the price on the 8GB model to $399—$200 less than its introductory price.

Apple hopes that the price cut will spur sales of the mobile device it introduced in June. “We want to put iPhones in a lot of stockings this holiday season,” Apple CEO Steve Jobs said at a press event in San Francisco Wednesday.

iPhone sales have been closely watched since Apple released its mobile phone to much fanfare on June 29. Back in July, Apple’s stocked slumped badly after AT&T announced iPhone activation figures that failed to meet analyst expectations.

Apple reported that it sold 270,000 iPhones during its fiscal third quarter and told analysts in July that it expected to sell 1 million phones by the end of September. Jobs said Wednesday that the company is on track to meet that goal.

“We want to make iPhone even more affordable for even more people this holiday season,” he said.

The 4GB iPhone may be leaving Apple’s product line, but the remaining stock has undergone a price cut of its own. At press time, the Apple Store was selling 4GB models for $299 —a $200 drop from their introductory price.

Updated at 3:20 p.m. Eastern to add information about 4GB iPhone pricing.

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