The stock of Apple Inc (NASDAQ:AAPL) closed at $173.25 gaining 1.88% in yesterday’s trading session. It was on Tuesday when Israel’s consumer protection bureau revealed that it was conducting investigations to look into why Apple had resorted to hiding it from customers that its software could end up slowing down the performance in some of the iPhones.
In a statement unleashed recently, the Consumer Protection and Fair Trade Authority made it known that it had gotten in touch with Rony Friedman, who happens to be the head of Apple in Israel. It was in a quest to get to the bottom of the matter and all this is happening at a moment when business dynamics globally seem to be shifting pretty fast.
One thing that is quite evident is the fact that quite a significant number of businesses are struggling to sharpen their competitive edge amid the competition growing fierce by the day. In the same line of thought, technological advancements are sweeping across the globe with speed with a lot if businesses leveraging on them in a bid to offer consumers the best in terms of services.
The Authority’s s spokesperson while addressing several journalists recently disclosed that they had what it took to levy massive fines in civil proceedings. However, he believes that it is a little bit too early to move ahead to considering such a possibility, but it wasn’t ruling it out completely.
The same journalists had moved out again to get Apple’s spokesperson to give his comments regarding the matter. It turned out to be an exercise of futility after the official turned down their request to comment on the matter.
It was way back in December that Apple made the acknowledgement that its software from time to time deliberately ended up slowing phones with weak batteries. However, it went ahead to give an apology, but the best part according to a person familiar with the matter was the decision to cut the price of battery replacements for affected phones.
A number of critics have moved out to allege that the company had obfuscated the point that a worn-out battery in a major way degraded the performance of the phone.