Thursday, May 26, 2016
Current Weather
Loading Current Weather....
Published: Tuesday, 6/9/2009

iPhone price cut to $99; Jobs still out of sight

SAN FRANCISCO Apple Inc. cut the price of its entry-level iPhone to $99 Monday, in a nod sure to please recession-weary consumers, but ailing leader Steve Jobs did not put in a much-speculated-about appearance after a months-long absence from public view.

Analysts said the discount is sure to galvanize sales of the device.

But shares in Apple slid 0.6 percent to $143.85 after a 6.5 percent climb in the week leading up to the highly anticipated event as Mr. Jobs failed to show and investors debated the merits of the sharp iPhone price cut.

Apple also unveiled its next-generation iPhone 3GS the S stands for speed which will be twice as fast and take videos. It is to go on sale in countries including the United States and Germany beginning June 19 for $199 to $299.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.