(Reuters) – Apple Inc (AAPL.O) has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries.
FILE PHOTO: An Apple Store employee walks past an illustration of iPhones at the new Apple Carnegie Library during the grand opening and media preview in Washington, U.S., May 9, 2019. REUTERS/Clodagh Kilcoyne
The preliminary proposed class-action settlement was disclosed on Friday night and requires approval by U.S. District Judge Edward Davila in San Jose, California.
It calls for Apple to pay consumers $25 per iPhone, which may be adjusted up or down depending on how many iPhones are eligible, with a minimum total payout of $310 million.
Apple denied wrongdoing and settled the nationwide case to avoid the burdens and costs of litigation, court papers show.
The Cupertino, California-based company did not immediately respond on Monday to requests for comment….
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