Apple, Inc. (Nasdaq: AAPL) iPhone customers who are angry that the company has been intentionally slowing down device speeds will not have to wait to get their steeply discounted replacement batteries.
Just days after apologizing to customers for not properly disclosing software updates that slow down iPhone processing speeds, Apple now says the $29 replacement iPhone batteries are immediately available.
[See: 6 Reasons to Love Apple Stock in 2018.]
Apple initially issued a lengthy apology to customers on Dec. 28, roughly a week after the company acknowledged that it had slowed the speed of older model iPhones to help aging batteries handle power demands. The slowdown was included in an iOS 11.2 software update and impacted users with iPhone 6, iPhone 6s, iPhone SE and iPhone 7 devices.
As part of the initial apology statement on its website, Apple said it would discount the price of replacement iPhone batteries from $79 to $29 starting in late January. The company now says customers can receive the price discount right away. Initial battery supplies may be limited, the company says.
Apple has dealt with a wave of negative press and a handful of shareholder lawsuits related to the iPhone slowdown. Critics have accused the company of slowing down iPhone speeds to help drive customer upgrades to newer, pricier devices. Apple says it is simply trying to avoid the automatic device shutdowns that can happen when iPhone batteries become overworked.
“First and foremost, we have never — and would never — do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades,” the company says in a statement.
[See: 7 of the Best Tech Stocks to Buy for 2018.]
Apple investors will be happy to see the iPhone battery drama blow over. The stock delivered an impressive 46 percent gain in 2017 but stalled in December, declining 0.4 percent.
Last week, Wells Fargo analyst Aaron Rakers said the latest iPhone shipment data from China doesn’t bode well for Apple in 2018. “An analysis of China Province-level mobile phone export data this week reinforces our cautious opinion on Apple’s iPhone cycle,” Rakers wrote, according to CNBC.
Wells Fargo has a “market perform” rating and $195 price target for Apple stock.
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Apple, Inc. (AAPL) Still Making Amends for Slow iPhones originally appeared on usnews.com
