Following Apples $200 iPhone price cut, sales of the phone have increased approximately three fold, according to a study by Piper Jaffray's Gene Munster.
The retail analysts has found that prior to the dramatic drop in price roughly 9,000 iPhone units were sold per day, whereas now the cut has hit stores it is estimated that Apple now sells 27,000 units per day.
The recent price cut dropped the 8GB model from $599 to $399 and shortly after that announcement, the 4GB model ceased to be manufactured.
The sales increase, however, cannot be entirely down to the price cut. Recently a free unlocking service has emerged on several tech websites, sparking those reluctant to tie themselves to an AT&T contract to buy the phone.
Several disgruntled Apple fanboys complained directly to CEO Steve Jobs about being swindled out of $200, following the sudden cut. For Apple addicts who have complained at paying 33 per cent more, the company will issue a $100 store card as a consolation gift.