Apple excludes iTunes Store from $100 iPhone credit [UPDATE: Apple allows iTunes Gift Card purchase]

Apple Inc., offering $100 in credit to early iPhone buyers after cutting the price, excluded one of its most-popular items from the rebate: iTunes music,” Connie Guglielmo reports for Bloomberg.

Customers can buy ‘just about anything sold by Apple’ if they submit a rebate claim by Nov. 30, Cupertino, California- based Apple said today on its Web site. The company didn’t give a reason for leaving out iTunes,” Guglielmo reports.

[UPDATE: 11:59pm EDT: Apple: $100 iPhone credit can be used for iTunes gift cards]

Full article here.

Apple Store (retail and online) and Apple’s iTunes Store are two completely different entities, however the Apple Stores do sell iTunes Gift Cards, which Apple has specifically excluded from the $100 credit.

In their “Terms and Conditions for the $100 store credit for Early iPhone owners program,” Apple states, “Customers may not redeem their store credits at any iTunes Store in the United States or elsewhere [or] to purchase Apple Gift Cards or iTunes Store Gift Certificates [or] to give iTunes Store content as gifts or to create iTunes Store allowances.”

Apple probably excluded iTunes Store purchases due to the scant profits the store reportedly generates for Apple, which doesn’t necessarily make it right.

[UPDATE: 11:59pm EDT: Apple: $100 iPhone credit can be used for iTunes gift cards]

[2:35pm EDT: Revised headline and our Take to reflect that Guglielmo got it right and we initially got it wrong: Apple has excluded iTunes Store from the $100 iPhone credit. Sorry, Connie! Also removed feedback that would be confusing due to our error.]

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