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Industry Update

Apple has agreed to pay millions of dollars to 34 states over its controversial previous practice of deliberately slowing down older iPhones to extend their battery life. The company will pay $113 million to settle an investigation by states including California and Arizona over how Apple wasn't transparent about its iPhone battery problems that led to unexpected device shutdowns. Instead of disclosing the issue to consumers or replacing the batteries, it pushed a software update in December 2016 that impacted the performance of older iPhone models. News of the practice upset Apple (AAPL) consumers, igniting what some called "batterygate." Many believed it was an effort to encourage users to buy new iPhones.

Source: Apple to pay $113 million in 'batterygate' settlement - CNN