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Apple will pay $113 million over investigation into slowing iPhones - Fox Business

Apple will pay $113 million over investigation into slowing iPhones - Fox Business

Apple will pay $113 million over investigation into slowing iPhones - Fox Business
Nov 20, 2020 58 secs

Market data provided by Factset.

Attorneys general from Arizona and Indiana, which led the investigation along with the attorney general of Arkansas, said in statements Wednesday announcing the proposed deal that it also requires Apple to provide truthful information to users on its website and elsewhere about iPhone battery health, performance and power management.

In a court document outlining the settlement, the company denied wrongdoing and said the agreement doesn’t represent any concession that it violated laws or regulations.

The settlement came on the same day Apple announced a partial concession in its fight over fees it charges app developers to sell their offerings on its App Store, amid broader regulatory scrutiny of the power it wields over other companies in its digital ecosystem.

The European Union, the Justice Department and the Federal Trade Commission are investigating Apple and other tech companies on antitrust grounds.

And a House subcommittee investigating Big Tech last month accused Apple of wielding anticompetitive power that harms rivals and benefits itself.

Apple denied any wrongdoing in that case and agreed to a settlement to avoid burdensome and costly litigation, according to court records.

Market data provided by Factset.

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