Apple announces iPhone credit terms

One week after Apple Inc. Chief Executive Steve Jobs apologized for abruptly cutting the price of the iPhone, the company on Friday detailed the terms of how iPhone buyers can go about getting their $100 store credits.

Apple said the credit will be available for customers who bought an iPhone at either an Apple or AT&T Inc. store between June 29 and Aug. 22. Customers can go to Apple’s Web site at www.apple.com and enter their iPhone serial number and phone number to get the credit, which can be applied toward any Apple product at either the company’s retail or online stores.

The credit requests must be submitted by Nov. 30.

Any iPhone purchased after Aug. 22 but before Sept. 5 is eligible for a $200 refund. The company has a policy that allows for refunds if it drops the price of an Apple-branded product within two weeks of customers purchasing that product.

Apple shares rose $1.61 to close Friday at $138.81.