Fixing iPhone Batteries More Important Than Upgrade Cycle: Tim Cook

Apple recently plant itself tangled in the controversy over throttling of aging iPhones which it, although unsuccessfully, tried to escape by lowering down the price of bombardment replacement for affected iPhone models. It has also landed itself in legal troubles for intentionally driving the upgrade cycles for iPhone users just, CEO Tim Melt strongly opposes the notion.

Melt, while revealing the earnings from the last quarter of 2017, was questioned about whether the reduction in the price of bombardment replacement volition prompt fewer iPhone users to upgrade. Replying to this question by investor Toni Sacconaghi, Cook responded by saying that company did non accept into consideration upgrade cycles while making the determination. He said that Apple tree discounted battery replacement because it felt like the right matter to practice.

We did it because nosotros saw it as the right matter to do for our customers. The consequence on upgrades was not in our thought process in deciding what to practice. – Tim Melt

Melt also talked about the long-term reliability of iPhones, which according to him, "is fantastic". He felt confident that iPhones have a solid market when it comes to pre-owned phones and cited an increase in this segment over years. Further, he cited that while wealthy iPhone owners upgrade to the latest iPhone every year, before models trickle down to other users who go along to be satisfied with it for several years.

Apple Wants to Fix its Battery Woes, Even if Upgrade Cycles Suffer: Tim Cook — Courtesy: MarketWatch

Cook on behalf of Apple tree, every bit part of the earnings call, announced that information technology reaped $88.3 billion in the last quarter of 2017, calling information technology the nearly successful quarter in Apple's history. The acquirement received a huge boost from 77 meg iPhones of which iPhone X was the nearly preferred device. This is up from $78 billion which the visitor made during the same period last year.

The company also announced that information technology has a reserve of $163 billion in cash, which it intends to invest in other companies' stocks to maintain a neutral net-greenbacks-flow "over fourth dimension".