Apple today savaged the cost of the 8GB iPhone, hacking $200 off the cost of the device, which now costs just $399.

Some iPhones, today Announced during Apple's special event by company CEO, Steve Jobs, Apple confirmed the deep discount on the incredibly popular device. Jobs also confirmed that the company will sell its millionth iPhone by the end of September.

“The surveys are in and iPhone customer satisfaction scores are higher than we’ve ever seen for any Apple product,” said Steve Jobs, Apple’s CEO. “We’ve clearly got a breakthrough product and we want to make it affordable for even more customers as we enter this holiday season.”

The company also rang the final bell for the 4GB iPhone, confirming this configuration "will be sold while supplies last."