There’s also the much-anticipated Apple Vision Pro headset launch to look forward to. Apple has also opened its first store in India, with plans to expand its presence nationwide. The second quarter earnings revealed China sales increased 6.7% to $15.8 billion, far ahead of the $13.6 billion predicted by analysts. The company plans to build 77 million units instead of the 83 million previously forecasted, and shipping out the new iPhone may be delayed to October instead.Ĭhina could give Apple the push it needs to boost sales. That would explain why Apple has allegedly cut production of the iPhone 15 just a month out from its launch. New data from Counterpoint Research predicts smartphone shipments to fall 6% to 1.15 billion devices this year, which would be the worst performance in a decade. Next month marks the Apple iPhone 15 launch, though it’s releasing the latest model against a challenging backdrop. But Wall Street wasn’t impressed, with Apple shares declining 2.4% at the report. Apple also confirmed it had added a billion more paid subscriptions across its various services.Īpple CEO Tim Cook said the company continued to experience an “uneven macroeconomic environment”, with revenue affected by currency headwinds. And the services segment performed well, accruing $21.2 billion in sales and up 8.2% from the previous year. It wasn’t all doom and gloom - Apple’s earnings per share beat estimates, arriving at “1.26 a share instead of the $1.19 expected. iPad sales saw an even more dramatic decline, plunging nearly 20% from last year to $5.8 billion. Mac sales beat expectations at $6.8 billion but are still down 7.2% from last year. IPhone sales fell 2.4% to $39.7 billion, below the consensus estimate of $40.3 billion. For the quarter ending July 1, Apple’s revenue was $81.8 billion, down from 1% the same time last year and just missing analyst forecasts of $81.9 billion. How did Apple’s earnings beat go?Īpple’s latest earnings beat was a rare misstep from the Big Tech titan, which became the first company ever earlier this year to achieve a $3 trillion valuation. The registration deadline for the class action was back in 2020, so it’s taken six years to wrap up the proceedings. There’s no word yet on when the claimants will receive their payout, but word is that it’s soon. 21, 2017, could be eligible for the payout. Owners of iPhone 6, 6 Plus, 6S, 6S Plus and SE models running iOS 10.2.1 or later and iPhone 7 and 7 Plus running iOS 11.2 or later before Dec. At the time, replacing a battery cost $75.Įach plaintiff is set to receive between $65 to $90, depending on the number of claims submitted. Apple is said to be paying out between $310 and $500 million to 3.3 million for the ‘software throttling’ tactic, which users claimed was a cheap ploy to get users to upgrade to a new phone sooner than they had anticipated.Īpple has always denied the claims, saying the software update was meant to prolong the lifespan of the devices and that the phones would go back to normal speed when the battery was replaced. Millions of iPhone users who noticed a slowdown in their phone’s performance after a software update are set to get a payout. What’s happening with Apple’s battery settlement?
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