By Brett Molina, USA TODAY

The first-generation Apple iPad.

CAPTIONMarcio Jose Sanchez, AP

Update at 3:20 p.m. ET:

Apple says it will give $100 back to shoppers who bought a first-generation iPad at one of its retail stores or through its online store in the past two weeks, reports the Associated Press.

The policy kicks in when the company permanently reduces the price for one of its products, as it did Wednesday when it cut prices for old iPads by $100.

Apple says retail customers need to present the original purchase receipt and request a refund within 14 days of the price reduction. Online shoppers should call Apple customer service.

Earlier posting:

On the heels of their unveiling of a upgraded iPad, Apple has slashed prices on the first-generation versions of the tablet by $100.

In the Special Deals section of Apple's online store, visitors will find the 16GB, first-generation iPad available for $399. The 32GB and 64 GB models are selling for $499 and $599 respectively.

The original iPads with Wi-Fi and 3G support have also dropped in price, starting with the 16GB for $529.

Apple's first iPad was a huge hit for the company, topping 15 million in sales since launching early last year.

Meanwhile, the iPad 2 will debut on March 11. For more, .

See photos of: Apple