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.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Video game engine, Unity, makes its debut on the NYSE. Kimberly Jabal, CFO, joined Cheddar to discuss the decision behind taking the company public.
The U.S. Commerce Department says it is prohibiting Chinese-owned TikTok and WeChat from app stores as of Sunday, citing national security and data privacy concerns.
U.S. stocks are closing lower Thursday as Wall Street continues to swirl after the Federal Reserve said it will keep interest rates at nearly zero for years to help nurse the wheezing economy.
Sumo Logic's Ramin Sayar, president and CEO, joined Cheddar to discuss the decision to take the company public and its success as more businesses turn to the cloud.
As Ford gears up for production of its 2021 F-150, more jobs are being added to meet demand for the electric version of the truck. Kumar Galhotra, president of the Americas & international markets group, joined Cheddar to discuss.
Facebook announced it is teaming up with Ray-Ban maker EssilorLuxottica to launch its first pair of smart glasses in 2021.
Unqork, has become a virtual bridge between people and government services as COVID-19 forces agencies to reduce normal operations. Cas Holloway, Unqork's head of enterprise, joined Cheddar to discuss the convenience of the service provides, particularly when it comes to marriage licenses.
The latest news and headlines from Apple's latest product reveal including the latest on the Apple Watch, IPads, and more.
Jeff Thomas, Nasdaq's head of tech listings, joined Cheddar to discuss the spate of tech companies set to go public.
