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.
World leaders are currently dealing with a handful of pressing issues, including Russia's invasion of Ukraine, inflation, and not to mention the COVID-19 pandemic; but it could be argued that the most pressing issue is one that has experienced its fair share of neglect in the past -- climate change. As tensions escalate between Russia and Ukraine, there is fear the focus on climate will once again be pushed aside. However, the White House appears to be making some effort to prevent that from happening. The White House Office of Science and Technology held a first-of-its-kind roundtable discussion with some of the nation's leading climate scientists on Thursday. Michael Mann, Director of the Earth System Science Center at Pennsylvania State University, and author of the book 'The New Climate War' joins Cheddar News' Closing Bell to discuss his experience as one of the climate scientists at the White House event.
U.S. stocks rebounded to end higher on Thursday after President Biden announced new sanctions against Russia following the country's attack on Ukraine. The Dow was down 859 points at its lowest point of the session, before ultimately finishing the day in the green. Melissa Armo, founder and owner of the Stock Swoosh, joins Cheddar News' Closing Bell to discuss.
HearHere bills itself as a mobile audio entertainment app for road trips. The company just announced $3.2 million in seed funding led by Camping World, a retail company that sells recreational vehicles and camping supplies. HearHere's GPS-powered app offers over 8,880 stories across the continental U.S. and serves up the stories based on a users' geographic location and interests. The stories are narrated by some big-name celebrities including actor Kevin Costner, who is a co-founder of the company. Woody Sears, co-founder and CEO of HearHere, joins Cheddar News' Closing Bell to discuss.
On December 25, 2021, NASA got into the holiday spirit by launching the James Webb Space Telescope, the largest and most powerful space science observatory in history.
It is intended to succeed the Hubble Space Telescope as NASA's flagship mission in astrophysics and is able to view objects too old and distant for Hubble. Gregory Robinson, director of NASA's James Webb Space Telescope program, joins Cheddar News' Closing Bell to discuss the mission. "I think a lot of what we don't know today is what I'm expecting to find and certainly really understand what took place more than 13.5 billion years ago and see the formation of some of the first galaxies in our universe," said Robinson.
YouTube creator platform Spotter recently announced $200 million in Series D financing at a valuation of $1.7 billion, led by SoftBank Vision Fund 2. Spotter allows YouTubers to license the rights to their video catalogs in exchange for large sums of cash paid upfront. The company's clients include some of YouTube's most popular personalities, with a combined total of more than 1.2 billion subscribers. Aaron Debevoise, founder and CEO of Spotter, joins Cheddar News' Closing Bell to discuss.
The Russia-Ukraine conflict drags on — and global economies could see pandemic-era prices and supply chain issues come back full force. Both countries supply key commodities and materials, including semiconductor production. That sector, in particular, was hit hard by the pandemic and was just beginning to see a recovery when the invasion began. What happens next? Do companies have enough to fall back on and can they rely on pandemic-era measures to stay afloat? Everett Millman, Chief Market Analyst at Gainesville Coins, joins Closing Bell to discuss which sectors are being hit the hardest, rising prices, how consumers could feel the impact, and more.
Jamie Hemmings and Jilea Hemmings, owners and founders of Nourish + Bloom Market, join Cheddar News to talk about the inspiration behind creating their cashierless grocery store.
