Now that the highly-anticipated summer release of the iPhone has came and gone, Apple has taken the next step by offering refurbished models. Consumers will be happy to know that the refurbished iPhones will be $100 less than new units. As a result, four-gigabyte phones will sell for $399 and eight-gigabyte units for $499.

The company does sell a number of other refurbished products through its website, so this move did not really come by surprise. Apple Chief Executive Officer Steve Jobs hopes that the iPhone will become the third major business of the company next to the iMac computer and iPod music player.

In addition, Jobs projects that by the end of September approximately one million iPhone units will be sold. The company reinforces that consumers should not be alarmed by refurbished models; they have all been inspected and factory-tested to insure that they are in proper working condition.

The refurbished models were actually sent back to the manufacturer under Apple’s 14-day return policy that allowed customers to either be refunded or given a brand new model. Only some of the units had technical difficulties, which were all addressed prior to releasing the refurbished units.

This move by Apple is one of many to come in the attempt by the company to demonstrate complete control in the consumer entertainment industry.