By AppleInsider Staff

Published: 03:25 PM EST

After personally reading hundreds of emails from disgruntled iPhone customers, Apple chief executive Steve Jobs appears to have had a change of heart and now plans to offer early iPhone adopters a $100 credit towards future Apple purchases.

In an open letter to customers published on Apple's website, Jobs conceded that while the technology road is a bumpy one, Apple should have done a better job of taking care of early iPhone customers, many of which make up the company's most faithful.

"Our early customers trusted us, and we must live up to that trust with our actions in moments like these," he wrote, referring Wednesday's unprecedented 33 percent price drop on the iPhone just 9 weeks after release. "Therefore, we have decided to offer every iPhone customer who purchased an iPhone from either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store."

Details on the $100 store credit are still being worked out, according to Jobs, but will be posted on Apple's website sometime next week.

"We want to do the right thing for our valued iPhone customers," Jobs added. "We apologize for disappointing some of you, and we are doing our best to live up to your high expectations of Apple."