Steve Jobs Full BarsThe new iPhone is out and despite huge sales that have rocked the record books, the company is taking serious heat for having a reception problem. If you haven’t heard by now there is a situation which causes the iPhone 4 to drop calls if you hold it by the bottom of the phone.

The antenna is on the outside of the phone and a design flaw has led angry customers, bloggers and tech sites to declare that the world is going to end in a ball of fiery death.  Your death will be a painful one.

Now a surprise press conference by Apple to address the iPhone will hopefully solve the situation.

Whew.  I wasn’t looking forward to the earth blowing up.

Apple refuses to address the issue so far despite kicks in the groin from Consumer Reports who recommends putting duct tape on the phone to get it to work but won’t recommend you buy the phone until they fix their issue.  Ouch.

Apple’s stock has taken a nice dip and news reports hint that a recall is in order.  So if you are one of the 1.5 million people to buy the iPhone 4 you may want to keep an eye out.  Reports of Apple silently switching out hardware are already happening.