Apple Co-Founder Thinks iPhone Price Cuts Reflect Inventory Problems

| About: Apple Inc. (AAPL)

Apple (NASDAQ:AAPL) founder Steve Wozniak is off-message with respect to the rationale for Apple's iPhone price cut:

Stephen Wozniak, the co-founder of Apple, told The IBC Daily that he thinks Apple's decision to drop the price of the iPhone by up to 50% only two months after it went on the market was "an accidental error" and that he "hasn't talked to anyone who thinks it was a good idea."

The man who is often called the "other Steve" in reference to his more high-profile friend and Apple co-founder Steve Jobs, Wozniak said he "feels badly" about the early price cut because of all the people who had only recently shelled out $600 for the new iPhone. "My opinion about why they did it is that they have a large inventory and they are set up to build more than they have sold by a bit and they have to keep things moving," said Wozniak. "It happened to every technology product with the price coming down - but you don't expect it to be two months, you expect it to be at least a year."

Wozniak is a loose cannon -- this is the same guy who raked Apple for adopting Intel (NASDAQ:INTC) chips, and recommended the company sell off iPod -- so I don't read ever-much into this, but it's still going to get some people's attention.

[IBC via Eric]