Apple offers free repairs for iPhone glitch

Cesar Mills
February 4, 2018

"If your iPhone 7 has any damage which impairs the ability to complete the fix, such as a cracked screen, that issue will need to be resolved prior to the service". The company had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Stokes & Hubbell Capital Management LLC grew its holdings in shares of Apple by 2.3% in the second quarter. Many consumers, however, remain convinced that the company torpedoed the older iPhones to prod them to upgrade to the latest - and more expensive - models released in last fall.

Hints of this bug first appeared in September 2016 when Apple launched an investigation into iPhone 7 devices that were displaying a "No Service" message after customers enable and then disable Airplane Mode.

Analyst predicted iPhone units sold during Q1-18 ranged from $710 to $755 however the actual number is $796 which clearly states the increase of revenue despite decrease in sales.

Elsewhere in Apple's results, iPad sales rose by 1%, but sales of Mac computers fell by 5%.

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Apple announced on Thursday that the average price of an iPhone is almost $800, or about $100 higher than it was past year. And I believe we're going to see that play out in 2018 and beyond. Take a look at the image below for a visual aspect.

Merrill Lynch remains bullish on Apple's upside potential to gross margins and significant cash return potential, offset by weaker iPhone units reported.

According to Apple's fiscal report, its wearable devices, including Apple watches and airpods, grew more than 70 percent in revenue year-on-year. As with new devices, customers can also buy an extra year of coverage via the AppleCare+ extended warranty - which is an extra $129 for the iPhone 7, and $149 for the iPhone 7 Plus. That could also be why Apple is reportedly stopping iPhone X production in Summer 2018. "iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November".

The smartphone maker reported December-quarter Thursday. "He added that the company was still investigating the details of the incident, including whether the mobile phone battery being replaced was part of a worldwide battery replacement program for its flagship iPhone product".

Other reports by GizPress

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