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.
For Microsoft CEO Satya Nadella, a man tasked with running one of the most integral — and most valuable — companies in the world, the basis of success is simple: make sure what they do is what their customers and employees want.
These are the headlines you Need 2 Know for Wednesday, July 24, 2019.
Facebook and the Federal Trade Commission have officially reached a $5 billion settlement over a nearly 18-month investigation into the social media giant's practice of sharing user data with third parties without their consent.
Seedo’s self-contained grow box lets you grow our own plants with the help of an app, there’s no prior plant or experience needed. The technology was originally created to grow vegetables and herbs without pesticides or climate effects.
Online wealth advisor Betterment announced Tuesday that it's launching checking and savings accounts with a competitive annual yield of 2.69%.
ELLO Capital will focus on guiding U.S.-focused cannabis, hemp, and ancillary companies through mergers and acquisitions, capital raises and private placements. The company also aims to assist “traditional cpg companies that are looking at how to navigate the CBD or cannabis world,” like Altria, Diageo, and Constellation.
A new co-investment platform for homeownership called Haus has just raised $7.1 million in seed funding. Haus, created by Uber
Co-founder Garrett Camp, says that its system results in 30% lower payments for homeowners than traditional mortgages. Haus CEO Jonathan McNulty joined Cheddar to discuss how his company shares some of the risk for a slice of the reward.
*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.*
These are the headlines you Need 2 Know for Friday, July 19, 2019.
eMarketer reports U.S. esports ad revenues are expected to pass $200 million by 2020. Jimmy Mondal, host of Cheddar Esports, breaks down why it's so important for teams to bring on partners and why a website is crucial to building a fan base.
