If you are still planning to grab your very own iPhone unit, this will certainly be great news to you. But if you are one of those poor sods (like me) who half-rushed through buying an iPhone, feel free to tear your hair off your head. Why? Because Apple just slashed $200 off of the regular iPhone price, that’s why!

Yes, barely a few months after the release of the most awaited gadget of the year, Apple chopped 200 bucks off the regular price of the 8GB iPhone, which used to sell for $599. Rumor also has it that Apple will be tossing out the 4GB version, never to be seen again in stores.

Why, do you ask, did Apple just do what it did? Well, Apple is posed to release iPod Touch, a new addition to the iPhone family that is built on the same technology from which iPhone was spawned. Naturally, even with the release of this new baby, Apple would not want the most awaited gadget of the year to fall back in sales in order to give way to its newest sibling. That would be bad, right? Certainly that would be bad.

It is also deduced that poor sales is also the reason why the 4GB version of the iPhone will be phased out. Whether this deduction will prove to be true, we shall only see later.

The iPhone price slash does not have to be entirely bad news to the hapless people who bought their iPhone units only a few days ago. According to the sales and refund policy of the Apple store, people who got their iPhones only within the last ten days are entitled to get some of their money back in light of this price slash. So, if that is you, go contact Apple and get your cash back.