Reuters reports: “Apple Inc, faced with an outcry from iPhone customers who bought the device before a sharp price cut, will offer them a $100 store credit, Chief Executive Steve Jobs said on Thursday.”

“The offer applies to people who bought iPhones at either Apple or AT&T Inc stores and not receiving rebates or other considerations, Jobs said in a letter posted on Apple’s Web site.”

“While Apple has not disclosed how many units it has sold to date, it has reported selling 270,000 iPhones on the first two days and expects to sell 1 million units by the end of September, potentially costing the company tens of millions of dollars.”

“On Wednesday, Apple slashed the price of its $600 iPhone model to $400, saying it wanted to make the device — a combination cell phone, music player and Web browser — more affordable. AT&T is the exclusive service provider for the device.”

“Jobs’ full statement can be read at www.apple.com/hotnews/openiphoneletter/“