Apple last week announced a price cut of $200 on the iPhone only a few weeks after its initial introduction. Many of those customers who had queued overnight to be the first in town to buy one were understandably upset. They contacted Apple and commented on various Forums as to their displeasure.

Whilst there are many angles to this story. Are sales so poor Apple are slashing prices? Do they fear competitors enetering? Is another model on its way for Christmas? Maybe. Maybe not. The real story for me is the speed of response. Most companies when they make a 'mistake' use delaying tactics to either give them time to decide how to respond or hope it will all blow over.

Commendably Apple did not. They reacted and although the apology was couched with self justification, there is a $100 rebate (see open letter from Steve Jobs on Apples site). Will this be enough? Probably. Apple customers are very loyal.