Apple faces stock market probe over slowed down iPhones

by Leslie Wood February 1, 2018, 0:53

Following a report which the United States authorities are investigating Apple's power management function that slows down several old iPhone models, Apple issued a statement on late Tuesday confirming that it's "received inquiries from some government agencies" and is "responding to them".

For its part, Apple has apologized to customers over the software update and dropped the price of battery replacements.

In the fourth-quarter of 2017, Apple reported iPhone revenues of $28.846 billion, which marked merely 2.4% year-over-year growth.

Apple is playing ball with U.S. government agencies looking into its controversial decision to slow down older iPhones to account for aging batteries. She said that wasn't necessarily a bad thing for Apple, noting that the older models are cheaper to produce and generate relatively high margins per unit.

Design and component challenges were blamed for the delayed launch of the iPhone X, which came out in November instead of Apple's usual September kickoff for new flagship phones.

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A spokesperson for Apple also emphasised the company's position that it would never do anything to intentionally cut the lifespan of a product short to drive sales of new devices. For now, the investigators are merely looking at Apple's public statements in relation to the controversy, according to the sources. Aging lithium batteries deliver power unevenly, which can cause iPhones to shut down unexpectedly to protect the delicate circuits inside, it said.

The company offered a $50 discount on the cost of replacing older batteries, $29.99, and began replacing them earlier this month. These features will be included in a developer release next month and a user release this Spring. Our aim has always been to make products that our customers love. Due to poor sales and the very high-end price of the iPhone X, Apple will be made to go back to the drawing board, learn from their mistakes, and not release three very similar iPhones at the same.

Japan Display will also reportedly supply 70 percent of LCD panels for the 6.1-inch iPhone.

Apple said batteries for other eligible iPhones were anticipated to be available "without extended delays" in most countries. We know that some of you feel Apple has let you down.

Further complicating things, Apple for the first time past year released three new devices, meaning the iPhone X competed for sales with the iPhone 8 and iPhone 8 Plus.

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