4GB iPhone scrapped, 8GB iPhone cut to $399, early adopters weep...

Steve Jobs has announced that, in celebration of approaching one million iPhones sold, and with the holiday season coming up, the 8GB iPhone is going to be priced at US$399.

This seems to imply that the 4GB iPhone will be scrapped. Pricing is as of today (pity ANYONE who bought one yesterday, or indeed in the last two-and-a-bit months)

Fantastic news, but this has to be one of the fastest and most dramatic price slashes in Apple's (or indeed anyone's) history.

So how is this going to translate to a UK/European launch of the iPhone? We'll just have to wait and see.

Head over to Tech Digest for the complete live blog.

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