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October 3, 2007 8:00 AM PDT
When Apple announced that it was dropping the price of the iPhone by $200, some jumped for joy and immediately headed out to their nearest Apple store. For others--early adopters who had already purchased Apple's gadget--the price drop was nothing short of a slap in the face. Some were satisfied when Steve Jobs said that these loyal customers would be provided a $100 credit toward their next Apple purchase, but many felt the credit didn't suffice. One of these unhappy shoppers has filed a lawsuit against Apple to the tune of $1 million dollars. It's unclear how the litigant, Dongmei Li, plans to justify a million dollars in damages over a $200 price drop, but Li's argument is that "the price reduction injured early purchasers like herself because they cannot resell the product for the same profit as those who bought the cell phone following the price cut," according to CNN's account. So I guess that comes out to $200 in actual losses and $999,800 in pain and suffering.... Read More
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