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.
A group of crypto investors has come together to raise millions of dollars in the hopes of owning a rare piece of the U.S. Constitution. According to the crypto group, "Constitution DAO" It is time to put the constitution in the hands of the people. CEO and Founder of Metaversal Yossi Hasson, joined Cheddar to discuss more.
Over the weekend, Russia fired a missile at one of its own satellites, triggering an explosion that launched thousands of pieces of shrapnel through space and forced the astronauts aboard the International Space Station to shelter in place. Senior Writer from Space.com Chelsea 'Foxanne' Gohd, joined Cheddar to discuss more.
Twitter announced a partnership with S&P Dow Jones Indices on Thursday to build the S&P 500 Sentiment Index for monitoring the performance of 200 S&P members based on tweets with company $cashtags. Jared Podnos, strategic market development lead at Twitter, and Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices, joined Cheddar to provide some background on the partnership and to explain exactly how monitoring companies through public opinion will work. "[The S&P] taps into this conversation. They understand the real-time conversation as well as the historical trends, and then we can analyze that and understand the consumer sentiment and really build these innovative products around that conversation," Podnos added.
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Jean-Denis Mariani, the chief digital officer at COTY, the parent company for major brands like Bottega Veneta, Burberry, and Kylie Skin, joined Cheddar to talk about the impact of the pandemic on the beauty industry and the rapid shift to e-commerce sales. "There is no digital strategy anymore, only strategy in a digital world," he said. Mariani also talked about personalized makeup selection for consumers as the beauty sector begins to incorporate technology like artificial intelligence.
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Gerald Johnson, Executive VP, Global Manufacturing and Sustainability at General Motors, joins Cheddar News to break down what Factory ZERO signifies for GM's all-electric future and why the auto manufacturer will be a leader in the growing EV industry.
Airlines are gearing up for a busy winter season as they continue to rebound from the pandemic. But jet fuel prices combined with the ongoing labor shortage could put a damper on those holiday gains. Christian Vernet, president of La Compagnie, the only all business class airline in the world, joined Cheddar for an update on the state of the airline industry and how it's dealing with the surge in demand after the U.S. reopened its border to international visitors.
Cadillac is launching its first ever all-electric vehicle. The 2023 Lyriq boasts an estimated 300 mile range, $60,000 dollar starting price, a 33-inch advanced LED display, among many other features. The rollout comes as Cadillac has posted record third quarter global sales and plans to become all-electric by 2030. Rory Harvey, vice president of Cadillac, joined Cheddar to discuss what drivers can expect from the Lyriq, and how the brand has been able to deal with the ongoing chip shortage.
