If you haven’t already heard, after receiving hundreds of angry e-mails, Steve Jobs apologized for the recent price drop of the iPhone and has extended a $100 store credit to the early adopters that shelled out the $599+ for the 1st gen device during launch.

Nothing is confirmed yet but it sounds like this offer will only be extended to those that purchased the iPhone through an apple retail store or through the apple website (looks like AT&T stores will have some questions to answer about their return policy). The reason for the discounting is Apple’s attempt to remain competitive during the holiday season.

This is a perfect example of how consumers have collectively come together to successfully impact how a brand does business. Currently there are two frames of thought on the issue. Should early adopters just take the hit and pay the price for bragging rights and being the first to have a shiny new toy? Or should it be a new standard to reward brand loyalists who willingly dish out the big dollars to support your brand?

Either way it looks like Apple is in a win win situation since most consumers who sign up for the $100 gift card will have a hard time staying under that amount when at the cash register.