Apple Discontinues 4GB iPhone, Slashes 8GB iPhone Price $200

After some technical difficulties yesterday, we're back online and are going to endeavor to update readers throughout the day on some of the more interesting items that came out of yesterday's Apple media event.

We'll start with the price slashing Apple announced to close the media event (yes, sort of backwards, but so be it).

Jobs announced that Apple would be discontinuing the production of 4GB iPhone models. Though not particularly surprising, this may have seemed daunting to those who wanted to get their hands on an iPhone without paying $599.

Fear not, included in the announcement was the news that Apple has slashed the price of the $599 a whopping $200 to $399. Great news for those of you who have been hemming and hawing, but not so much for the early adopters.

While "penalizing" early adopters for being such isn't anything particularly new when it comes to Apple, this latest instance is a little more severe. Rarely, if ever, before has Apple altered the pricing and makeup of a product line so shortly after the product's launch.

Had your heart set on the 4GB Apple iPhone for some crazy reason? For a limited time, Apple is clearing out the 4GB models at a bargain price of $299.