Originally Posted by chopoff:
“Apple do not drop the price of their products.
They replace them with newer versions.”
They call them price adjustments rather than drops or cuts. They sometimes do them on their computers, when the do a in-year refresh. So, like you said, it's a price adjustment on a new version (even if it's a minor change) rather than on an existing product.
Those old version are still available with a price cut if you know where to look.