The new iPhone 14 smartphones are on display at an Apple Store at The Grove in Los Angeles, Friday, Sept. 16, 2022. (AP Photo/Jae C. Hong)
On March 1, Apple will start charging an extra $20 for battery replacements on out-of-warranty iPhones, according to an update on the AppleCare+ webpage.
The new price will be $99 for the iPhone 14, and while these models are currently under warranty, they won't be after the one-year anniversary of their release in September 2023.
At that point, the higher price point could encourage customers with broken batteries to simply buy a new phone rather than shell out nearly $100 for a replacement part.
Apple has adjusted prices multiple times in recent years, as supply chain issues have raised production costs. Just last month, labor unrest at an iPhone supplier in China led to a production shortfall. The company struggled with similar disruptions throughout the pandemic.
There is also a history of consumers pushing back against Apple's practices around batteries. The company in 2020 was forced to pay $113 million in fines to settle consumer fraud lawsuits around a controversy known as "batterygate," in which iPhone users discovered that Apple installed new software that made devices with older batteries operate slower.
In addition, CEO Tim Cook in 2019 wrote in a letter to investors that "some customers taking advantage of significantly reduced pricing for iPhone battery replacements" was partly behind a lower-than-expected iPhone sales.
MotorTrend named the Rivian R1T as the 2022 truck of the year - a prestigious title given by the publication as a way for automakers to tout third-party validation. Rivian beat out traditional, legacy truck favorites like Ford and General Motors.
MotorTrend said the company earned high marks for safety, efficiency, value, advanced design, engineering excellence, and performance of intended function. MotorTend head of editorial Ed Loh joins Cheddar News' Closing Bell to discuss.
There is a new way for investors to bet on cannabis - the AdvisorShares Poseidon Dynamic Cannabis ETF targets about 20 of the biggest names in U.S. cannabis. It comes at a time when it's still difficult for investors to access the space. Cheddar News cannabis reporter Chloe Aiello spoke with co-founder and managing director for Poseidon Investment Management, Emily Paxhia.
Danvas is a new company that aims to bring NFTs and digital artwork into the real world through an interactive, museum-quality display. The company says its product is the first premium, luxury digital art canvas, which it hopes will accelerate the world's appreciation of digital artists and their work, and empower collectors to acquire more NFT art. Danvas also just announced its launch this week, with a $7 million seed round from some big-name backers. Danvas co-founder and CEO Jeanne Anderson joins Cheddar News' Closing Bell to discuss.
The California-based tech company specializing in enterprise cloud-based data analysis of connected internet of things (IoT) has gone public on the NYSE, and Samsara's CFO Dominic Phillips told Cheddar's Kristen Scholer that the timing was right for the public offering for the firm's next phase of growth. "We're going to continue to add to our go-to-market motion, we'll continue to build out our international presence, we'll continue to add more selling capacity specifically as we look to penetrate larger enterprise customers, and we'll look to continue to deploy money in R&D," he said.
If you’ve ever struggled with a slow home internet connection or mobile data download in the United States, you’re not alone. Despite mobile and internet companies claiming to have “the best nationwide coverage,” or whatever it is they say in those ads, millions of Americans still lack access to reliable, high-speed internet. But you may be surprised to learn who the real culprit behind this ongoing issue is: flawed, overly-optimistic government maps.
VR/AR collaboration platform Spatial is diving head first into the Metaverse. The company is switching up its image--now branding itself as 'the metaverse for cultural events,' aiming to become the new virtual hub for NFT galleries, brand experiences, and large-scale conferences. Jacob Loewenstein, Head of Business, Spatial, joined Cheddar's Opening Bell to discuss the company's pivot.
The past year has been huge for delivery services as people largely stayed home during the pandemic. Getir, an Istanbul-based company delivering goods in just 10 minutes, is officially launching in NYC. It comes as the company continues its international expansion. Nazim Salur, Founder, Getir, joined Cheddar's Opening Bell to discuss the opportunities in the new market.
Another successful spaceflight is in the books for Jeff Bezos' Blue Origin. The company's third human spaceflight blasted off from Van Horn, TX. on Saturday, lasting about ten minutes from takeoff to landing. The crew, which included former NFL star and current GMA host Michael Strahan, traveled to the edge of space and experienced a few minutes of weightlessness before the capsule descended back to earth. Andrew Chanin, CEO of ProcureAM, joined Cheddar's Opening Bell to discuss the significance of the launch.
After nearly two years of the pandemic, U.S. consumers are ready to spend big this holiday season. However, shoppers may be faced with limited inventory as the U.S. continues to face shortages of key products and extended order backlogs. Per Hong, partner at consulting firm Kearney, joined Cheddar's Opening Bell to discuss the country's path forward.
The U.S. is preparing to add more China-based firms to a blacklist in response to human rights violations in the country. This includes the leading drone manufacturer DJI. American businesses will be barred from investing or conducting business with the blacklisted companies.
