U.S. Markets closed
  • S&P Futures

    3,648.00
    -13.00 (-0.36%)
     
  • Dow Futures

    29,111.00
    -92.00 (-0.32%)
     
  • Nasdaq Futures

    11,283.25
    -50.50 (-0.45%)
     
  • Russell 2000 Futures

    1,662.10
    -6.30 (-0.38%)
     
  • Crude Oil

    77.89
    -0.61 (-0.78%)
     
  • Gold

    1,632.50
    -3.70 (-0.23%)
     
  • Silver

    18.26
    -0.07 (-0.39%)
     
  • EUR/USD

    0.9561
    -0.0037 (-0.3824%)
     
  • 10-Yr Bond

    3.9640
    +0.0860 (+2.22%)
     
  • Vix

    32.60
    +0.34 (+1.05%)
     
  • GBP/USD

    1.0667
    -0.0064 (-0.5984%)
     
  • USD/JPY

    144.5400
    -0.2510 (-0.1734%)
     
  • BTC-USD

    18,979.33
    -797.03 (-4.03%)
     
  • CMC Crypto 200

    435.25
    -23.89 (-5.20%)
     
  • FTSE 100

    6,984.59
    -36.36 (-0.52%)
     
  • Nikkei 225

    26,277.82
    -294.05 (-1.11%)
     

Apple to pay another $113M to settle iPhone battery claims

·1 min read

PHOENIX (AP) — Apple will pay $113 million to settle the latest case alleging the the trend-setting company duped consumers by deliberately slowing down older iPhones to help extend the life of their batteries.

The payment announced Wednesday in Arizona resolves a case brought by more than 30 states for Apple acknowledged a software update released in 2017 bogged down the performance of older iPhones. It follows a previous settlement requiring Apple to pay up to $500 million to settle a class-action lawsuit brought in California.

Apple defended its actions as a way to prevent unintended shutdowns of the older iPhones as their batteries deteriorated but critics contended the company did it to help spur more consumers to upgrade to newer models.

The Cupertino, California, company apologized for slowing down the iPhones and agreed to replace batteries at a steeply discounted price. Apple, though, has never acknowledged any wrongdoing.

The settlement with the states adds to Apple's bill, which it can easily afford to pay. The company generates $275 billion annual revenue and boasts a market value of $2 trillion.