One entrepeneur (there are other names I could use but I’m feeling generous considering it’s Friday) launched an application for iPhone entitled ‘I Am Rich’ which, from what I’ve read, consisted of an image of a gem and a secret mantra. Sounds nice. That is until you see the price is almost $1,000!

Despite the fact that eight idiots  customers purchased this seemingly useless app, people have complained (one of which ‘accidently’ purchased the app) and it has now been rightfully been removed from the store.

But I know you’re thinking exactly the same thing as I am. Never mind morals or ‘doing the right thing,’ I wish I’d thought of creating it and pocketing an easy $5,600!

So the iTunes App Store has finally arrived and we have a breakthrough in how customers are engaging with companies.

Before I go on, I should acknowledge that I’m (trying to) purposely ignore all the problems Apple had in activating 3G iPhones, the lack of a fully integrated push solution as part of their new mobileme service, yellow tinted iPhones and the constant crashing of the applications from the App Store. It’s only been three days but the impact of these problems are a growing concern for both new and loyal ‘fanboy’ customers who are voicing their concerns all over the blogosphere.

Moving on and looking to the (not so distant) future, companies have a great opportunity to place themselves in the pockets of consumers and considering how affordable the 3G iPhone is now, that audience has just grown. Of course, online services such as Last.fm, Shazam and Facebook have developed great applications that extend their traditional offering but other companies are becoming a little more creative.

Hats off to the team at Carling who developed iPint which I can only describe as the perfect game to play with mates after a few beers, followed by a virtual pint as a reward. Delicious and fully branded.

British Airways have provided a useful flight finder allowing frequent travellers to monitor changes without having to check to departure board. Although I probably would given the number of crashes from other apps I’ve experienced so far!

I’ll be keeping an eye out for other, creative applications coming from corporations who can afford to give them away for free which, let’s be honest, is the real clincher in whether consumers are going to try something out. Thankfully Carling and BA didn’t get greedy and try to charge for their apps but beware, the iPhone could soon become the new fighting ground for all those application developers who are moving on from Facebook.