Apple Stock Slips After India Escalates iPhone Repair Investigation
Source: GuruFocus.com ·
Apple Shares Drop as India Probes Software Warranty and Repair Costs
From the source
This article first appeared on GuruFocus . Apple ( NASDAQ:AAPL ) shares slipped 1% as India's consumer watchdog examines the company's software warranty terms following complaints that the iOS 18 update hurt iPhone functionality and left customers with expensive repair bills. The review adds another regulatory issue for Apple in India, a market where the company is increasing iPhone production and building its sales presence. The country accounted for 9% of the iPhone market last year, compared with 4% in 2022, Counterpoint Research data shows. Warning! GuruFocus has detected 4 Warning Sign with AXON. Is AAPL fairly valued? Test your thesis with our free DCF calculator. Apple has challenged the allegations. In an August response, the company said software is generally excluded from warranty coverage and maintained that iOS 18 did not create widespread problems. Apple also said customers were informed of the terms before installing the update. India's regulator moved the matter to a…