One day after dropping the price of the iPhone by $200, Steve Jobs apologized to early adopters of Apple's smartphone, many of whom showered the chief executive with a firestorm of hate mail expressing frustration at the price cut.

In an open letter to the community, Jobs regretted disappointing his iPhone customers and offered a $100 credit toward any Apple product if they hadn't already received a rebate.

"We want to do the right thing for our valued iPhone customers," Jobs said. "We apologize for disappointing some of you, and we are doing our best to live up to your high expectations."

In unveiling a revamped iPod line on Wednesday in San Francisco, Jobs surprised Apple observers and customers by cutting the price of the 8-Gbyte iPhone to $399, and dumping the 4-Gbyte version of the combination mobile phone and media player. The latter will sell for $299 until supplies are depleted.

The move triggered an avalanche of angry messages on the Web by some Apple fans who stood in line June 30 to be the first to pay as much as $599 for the mega-hyped device. Two months ago, they said they felt cool. On Thursday, they said they felt like suckers.

"I feel like a looser. [sic] No more Apple for me, ever!" iPhone buyer Shane said in an e-mail posted to an InformationWeek discussion board.

In trying to make amends, Jobs said in an open letter posted on Apple's Web site that the company decided "to do the right thing," albeit with a warning about the tribulations of consumer electronics.

"This is life in the technology lane," Jobs said. "If you always wait for the next price cut or to buy the new improved model, you'll never buy any technology product because there is always something better and less expensive on the horizon."

The credit is applied to an iPhone bought directly from Apple, or through its exclusive wireless service provider AT&T. As a matter of policy, Apple said it provides rebates on price cuts within 14 days of any purchase. The latest offer does not apply to people who have already received a rebate or "any other consideration," Jobs said.

Jim Kane, customer loyalty expert and partner at consulting firm Brookeside, said Apple got it at least half right in offering the store credit. In responding positively to its customers' complaints, Apple is treating them like people and not numbers.

However, offering to give back only half of what was taken away may not be enough for many customers. "It may sound like a good thing, but the feeling of being ripped off isn't going to go away," Kane said. "You get something, but you're not getting the $200."