- Apple (NASDAQ:AAPL) responds to reports that the DOJ and SEC are investigating how the company handled its software update that throttled older iPhone models.
- Apple acknowledged that the government asked it questions but said that it wouldn’t intentionally “degrade the user experience to drive customer upgrades” and that the update was meant to “improve the customer experience.”
- In better iPhone news, Reuters reports that Apple contract manufacturer Wistron is close to finalizing a deal to develop a $157M 100-acre site in India.
- Wistron’s ICT Service Management Solutions assembles the iPhone SE in India and the new land could house additional assembly lines for Apple.
- The lines could assemble the iPhone 6s, a low cost model like the SE that could prove popular in the Indian market. Locally assembling the 6s would exempt it from rising import taxes.
- Apple currently has a less than 3% market share in India.
- Previously: Bloomberg: DOJ and SEC investigating Apple iPhone throttling (Jan. 30)
- Now read: Great Time To Buy The Dip: Apple To Regain Its Trillion Dollar Trajectory
Original article