Apple To Settle 'Batterygate' Lawsuit With Total $500M Payout For Disgruntled iPhone Owners
Portfolio Pulse from Ananya Gairola
Apple Inc. is set to settle the 'Batterygate' lawsuit with a total payout of $500 million to iPhone owners. The lawsuit accused Apple of covertly throttling the performance of specific iPhone models to address battery and processor issues. The final hurdle to the settlement was cleared last week, paving the way for eligible iPhone owners to receive compensation. The estimated payout per claim is approximately $65, with the total settlement between $310 million and $500 million.
August 15, 2023 | 8:43 am
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Apple's settlement of the 'Batterygate' lawsuit could impact its financials in the short term due to the significant payout. However, the settlement could also restore some consumer trust.
The settlement of the lawsuit will result in a significant payout from Apple, which could impact its financials in the short term. However, by settling the lawsuit, Apple is showing accountability, which could help to restore some of the consumer trust that was lost due to the 'Batterygate' scandal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100