IOS

Apple Inc has reported resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.

Apple Inc is preparing to release three new smartphones later this year, including the largest iPhone ever, a device that may have a bigger display than arch-rival Samsung’s flagship phone, Bloomberg has reported, citing people familiar with the products.

Wall Street researchers KeyBanc Capital Markets and Bernstein have lowered their ratings for Apple shares due to slowing iPhone sales. This week, the firm reported weaker than expected iPhone sales for December.

Apple has managed to make a $ 20 billion profit in three months. This is a record result, which is almost a quarter of its $ 88 billion capitalization. And that is despite the slight retreat on iPhone sales.

Apple is cooperating with U.S. government inquiries into its secret slowdown of older iPhones, further complicating its efforts to move past an issue that irked customers whose devices bogged down.

Two large shareholders urged Apple to study whether iPhones are proving addictive for children and that intensive use of the smartphones may be bad for their mental health.

The French Prosecutor's Office has launched an investigation into the US high-tech company Apple, accusing them of fraud in connection with their manufacturing practice for the so- planned depreciation, which deliberately slowing the operation of older models, "Iphone," reported French media quoting court sources.

A US woman is suing Apple for nearly one trillion dollars after the company acknowledged it had deliberately slowed down iPhones as they get older. The US tech giant now faces nine suits over the issue.

Violetta Mailyan is reportedly seeking compensation, demanding Apple pay her $999,999,999,000.

Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change.

A lawsuit has been filed in California against US technology giant Apple after the company admitted to slowing down older iPhone models to keep them running longer.