If 11 million iPhone owners had their battery replaced instead of spending $1,000 on a new iPhone, that’s $11 billion Apple lost in iPhone sales this year. No wonder the earnings forecast got revised down.
Just after the new year had been ushered in, Apple issued an investor warning stating it wouldn’t hit its expected revenue target. The blame was placed on worsening economic conditions in China, the current US trade war, and Apple’s $29 battery replacement program. Now it seems that cheap battery offer played a bigger role than anyone thought.
John Gruber from Daring Fireball has revealed that during Tim Cook’s all-hands meeting earlier this month it was stated 11 million iPhone owners used the $29 battery replacement offer.
