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.
As COVID-19 rocked the world and the U.S. markets, the bitcoin price trended right alongside them, appearing more like a risk asset than the safe-haven asset so many crypto enthusiasts hope it can be.
Electric vehicles are easier to build, cheaper to maintain, and can bestow a green-tinted halo on automakers and drivers alike – but they have a significant Achilles heel: their batteries.
Tagomi, a New York-based crypto brokerage, has joined the Libra Association, the Facebook-backed digital currency project.
Stocks rose in early trading on Wall Street following a seven-day rout brought on by worries that the spreading coronavirus outbreak will stunt the global economy.
Lisa Seacat DeLuca holds 500 patents working in artificial intelligence, blockchain, cloud computing, and the Internet of Things.
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.
Rapper Offset talked to Cheddar about providing opportunities and building community through his partnership with esport organization FaZe Clan.
The weeklong rout in markets is being driven by fears that the spreading coronavirus will derail the global economy.
Union Square Hospitality Group CEO Danny Meyer discusses the changing landscape of restaurants due to rapidly changing technology.
The airline has filed patent and trademark applications for its "Economy Skynest" concept, which would modify the economy cabin in planes to include six full-length sleeping pods.
