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.
These are the headlines you Need 2 Know for Thursday, July 18, 2019.
The House Financial Services Committee had more pointed questions for Facebook's David Marcus about the governing structure of the Libra Association in the second day of Congressional grilling.
Netflix had expected to pick up 4.7 million global customers in Q2. Instead it reported gaining 2.8 million. Shares tumbled over 10 percent after hours as the streaming giant reported Q2 earnings.
Facebook's David Marcus faced another day of governmental grilling, this time at the hands of the House Financial Services Committee, over the social media giant's plans for its digital currency Libra.
These are the headlines you Need 2 Know for Wednesday, July 17, 2019.
The banking system relies on public trust; unfortunately for Facebook's cryptocurrency ambitions, the social media Goliath doesn't have an abundance of it.
Rep. Tulsi Gabbard (D-Hawaii) adds her own critiques of Facebook's proposed digital currency Libra, and states that it's the responsibility of Congress to potentially break apart tech firms that appear to acquire too much power.
Amid an investigation by Health Canada, CannTrust has halted sales of its cannabis and products. Although CannTrust's regulatory snag does not directly impact U.S. cannabis supply, Cowen analyst Jaret Seiberg said that any turbulence in Canada's nascent industry could be cause for concern for its neighbor to the south.
These are the headlines you Need 2 Know for Tuesday, July 16, 2019.
For the first time, Uber will tie bonuses for it top executives to diversity goals aimed at increasing female and minority representation within the company, the ride-hailing giant announced on Monday.
