Qualcomm Puts Aside $1.5B in Funds Required to Enforce iPhone Sales Ban in Germany

http://bit.ly/2nnS1PJ

Qualcomm today announced that it has posted €1.34 billion in security bonds required for the chipmaker to be able to enforce a preliminary injunction on select iPhone models in Germany, after a court in the country found Apple to be infringing Qualcomm patents related to power savings technology used in smartphones.


Last month, a German court ordered Apple to cease the import and sale of all infringing iPhone models in Germany. Apple was also ordered to recall those iPhone models from third-party resellers in Germany, according to Qualcomm.

In a statement, Apple said it is "disappointed" by the verdict and plans to appeal. The company also confirmed that the iPhone XS, iPhone XS Max, and iPhone XR are not affected by the preliminary injunction, but it has temporarily halted sales of iPhone 7 and iPhone 8 models at its 15 retail stores in Germany.

Apple's full statement:

Qualcomm's campaign is a desperate attempt to distract from the real issues between our companies. Their tactics, in the courts and in their everyday business, are harming innovation and harming consumers. Qualcomm insists on charging exorbitant fees based on work they didn't do and they are being investigated by governments all around the world for their behavior. We are of course disappointed by this verdict and we plan to appeal. All iPhone models remain available to customers through carriers and resellers in 4,300 locations across Germany. During the appeal process, iPhone 7 and iPhone 8 models will not be available at Apple's 15 retail stores in Germany. iPhone XS, iPhone XS Max and iPhone XR will remain available in all our stores.

Qualcomm's general counsel Don Rosenberg issued the following statement to MacRumors following the verdict:

Two respected courts in two different jurisdictions just in the past two weeks have now confirmed the value of Qualcomm's patents and declared Apple an infringer, ordering a ban on iPhones in the important markets of Germany and China.

Apple and Qualcomm are engaged in a major legal battle spanning multiple countries, including China, where a court issued a similar preliminary injunction on select iPhones last month over two separate Qualcomm patents.

Apple continues to sell the affected iPhone models in China and believes it is in compliance with the ruling. Late last month, it made some minor changes in iOS 12.1.2 to address the Qualcomm patents in China, including introducing a new animation for force closing apps seen in the video below.


Apple sued Qualcomm in early 2017 over anticompetitive business practices related to chip-related licensing fees, while Qualcomm has accused Apple of sharing its trade secrets with Intel among other infractions. In the U.S., the FTC is also taking Qualcomm to court later this month over the alleged monopolistic behavior.

Tag: Qualcomm

This article, "Qualcomm Puts Aside $1.5B in Funds Required to Enforce iPhone Sales Ban in Germany" first appeared on MacRumors.com

Discuss this article in our forums

from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2C1Yw1s

Mophie Introduces New 18-Watt Powerstation PD Batteries for Fast Charging

http://bit.ly/2QmlgOL

Mophie, Apple's retail and online store partner for external batteries, today announced a pair of new Powerstation PD batteries supporting 18-watt fast charging over USB-C to charge your phone to 50 percent in as little as 30 minutes.


Just a few months ago, the company launched a high-capacity 45-watt USB-C PD battery aimed at providing power for MacBooks, but the new Powerstation PD and PD XL come in at lower price points and lower power optimized for phones. The 6,700 mAh Powerstation PD is priced at $59.95, while the 10,050 mAh powerstation PD XL is priced at $79.95.


Each model includes a USB-C port that supports 18-watt charging output and 15-watt charging input, as well as a USB-A port that supports up to 12-watt output, and Mophie's Priority+ passthrough charging technology ensures connected devices charge first, followed by the battery.

The new Powerstation PD and PD XL are available today at mophie.com, but there's no word yet on whether they'll also be coming to Apple's retail and online stores.

Tag: Mophie

This article, "Mophie Introduces New 18-Watt Powerstation PD Batteries for Fast Charging" first appeared on MacRumors.com

Discuss this article in our forums

from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2RBpbfn

AAPL Opens at $144, Sliding Nearly 10% After Major Revenue Cut and Down 35% Since Early November

http://bit.ly/2TnUzej

AAPL has opened at $144 today on the stock market, with share prices sliding roughly nine percent after Apple lowered its revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year.


AAPL is down just over 35 percent since closing at $222.22 on November 1, just prior to its last earnings report.

In a letter to shareholders on Wednesday, Apple disclosed that its revenue will be lower than its original guidance for the first quarter of its 2019 fiscal year, coming in at approximately $84 billion. Apple originally guided for revenue of $89 billion to $93 billion in the quarter on November 1.

The letter said lower than anticipated iPhone revenue, primarily in Greater China, accounts for the entire shortfall.

More details to follow…

Tag: AAPL

This article, "AAPL Opens at $144, Sliding Nearly 10% After Major Revenue Cut and Down 35% Since Early November" first appeared on MacRumors.com

Discuss this article in our forums

from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2BY4qAq

CES 2019 Preview: Here’s What Google, LG, Samsung, And Sony Could Launch At The Largest Annual Tech Convention

via News – MySmartPrice http://bit.ly/2Ql2Iyh

Tim Cook Says iPhone Activations Set New Christmas Day Records in United States and Canada

http://bit.ly/2F5zu5l

In a memo to employees obtained by Bloomberg's Mark Gurman, Apple CEO Tim Cook provided additional commentary about the company's reduced revenue forecast for the first quarter of its 2019 fiscal year.


Cook said Apple is "disappointed" that its quarterly revenue will fall up to $9 billion short of its initial guidance, entirely due to the iPhone, but touted revenue records from other product categories including the Mac, services like the App Store and iCloud, and wearables like the Apple Watch and AirPods.

iPhone activations also set new Christmas Day records in the United States and Canada, according to Cook.

Cook added that "this moment gives us an opportunity to learn and to take action," starting with an all-hands meeting with employees today at 9:30 a.m. Pacific Time at Apple's Town Hall auditorium on its Infinite Loop campus.

The full memo:

Team,

Happy New Year — I hope everyone was able to rest and enjoy time with loved ones over the holidays.

This afternoon we issued a letter to Apple investors explaining that we are revising our financial guidance for the holiday quarter. I encourage you to read it. As you will see, our revenue shortfall in Q1 is from iPhone, primarily in Greater China.

While we are disappointed to be falling short of our quarterly revenue goal, our fiscal first quarter was also a record setter for revenue from Services, Wearables and the Mac. iPad revenue grew double-digits over the year-ago quarter, and iPhone activations in the U.S. and Canada set new Christmas Day records. We expect to set all-time revenue records in key markets including the US, Canada and Mexico, Western European countries including Germany and Italy, and countries across the Asia-Pacific region like Korea and Vietnam. Our worldwide installed base of active devices also hit a new all-time high, reflecting the loyalty of our customers and their appreciation for the work you do.

We are tremendously proud of the innovations we're delivering to our customers with iPhone XR, iPhone XS and iPhone XS Max. These are, without a doubt, the best iPhones we've ever made. We did not set a new record for iPhone sales in Q1, however, due to a number of factors — some macroeconomic, and some specific to Apple and the smartphone industry.

External forces may push us around a bit, but we are not going to use them as an excuse. Nor will we just wait around until they get better. This moment gives us an opportunity to learn and to take action, to focus on our strengths and on Apple's mission — delivering the best products on earth for our customers and providing them with an unmatched level of service. We manage Apple for the long term, and in challenging times we have always come out stronger.

With that in mind, please join me for an all-hands meeting on Thursday morning at 9:30 a.m. PT. Be sure to check AppleWeb for more details. Due to construction at Apple Park, we'll be gathering at Town Hall on the Infinite Loop campus. Join us there in person, or via live stream through AppleWeb. I'll have more details about the quarter, and I'm looking forward to your thoughts and questions.

Hope to see you there.

Tim

AAPL shares are currently down around eight percent to $145 in pre-market trading following the disappointing news.

Tag: Tim Cook

This article, "Tim Cook Says iPhone Activations Set New Christmas Day Records in United States and Canada" first appeared on MacRumors.com

Discuss this article in our forums

from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2RaoQ3B

Tim Cook to Address Q1 Earnings Concerns at All-Hands Meeting With Apple Staff

http://bit.ly/2R4kjjc

Apple CEO Tim Cook today plans to hold an "all-hands meeting" with employees to alleviate any fears surrounding the company's revision to its Q1 2019 earnings expectations.

According to Bloomberg's Mark Gurman, who spoke to a person familiar with the matter, Cook plans to address concerns from Apple staff by taking questions from workers during Thursday's meeting.

Further details on the meeting have yet to be disclosed, but Cook will likely seek to dampen internal worries about what the revised earnings guidance means for the company's plans as it gears up for another year.

In his earnings call on Wednesday, Cook revealed that Apple expected to end the first quarter of 2019 with $84 billion in revenue, which is down over 7 percent from the $89 billion to $93 billion forecast the company predicted at the end of the last fiscal quarter 2018.

In interview with CNBC, Cook said trade tensions with the U.S. put additional pressure on the Chinese economy, which led to less traffic in stores and lower sales. He also blamed fewer carrier subsidies, a stronger dollar, and the $29 battery replacement program, suggesting that those factors led to fewer iPhone upgrades than expected.

Writing for Bloomberg, Gurman claims that stagnating smartphone sales mean Apple needs to look beyond the iPhone as its core product, but that the company shouldn't rely on its AirPods or Apple Watch lines because they're tied to iPhone use.

Likewise, Apple's services business may provide a sizable income, but the success of those also rely heavily on iPhone usage. In other words, Apple may need to look at new product categories if it is to successully reverse the damage of its iPhone sales problem, which is currently limited to China. The problem is that potential major launches like AR-glasses and self-driving car technology still seem years away.

According to analyst Shannon Cross of Cross Research, as long as the problem doesn't spread to other regions, Cook can weather the storm. "It's going to rely on understanding the supply chains, how to make sure costs are efficient and effective," which are Cook's strengths, Cross said.

Tag: Tim Cook

This article, "Tim Cook to Address Q1 Earnings Concerns at All-Hands Meeting With Apple Staff" first appeared on MacRumors.com

Discuss this article in our forums

from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2BXPJgK

Investor Rights Law Firm Investigates Apple's Earnings Cut for 'Potential Securities Fraud'

http://bit.ly/2F503rq

Apple is to be investigated by an investor rights law firm for potential securities fraud following yesterday's revised Q1 2019 earnings guidance for the company, it emerged on Wednesday.


Bernstein Liebhard LLP, which calls itself "a nationally acclaimed investor rights law firm," announced on its website that it was investigating the fraud claims on behalf of Apple shareholders, based on "allegations that Apple and/or its executives may have issued materially misleading business information to the investing public."

The firm's complaint with Apple focuses on comments about China made by CEO Tim Cook in his November Q4 2018 earnings call, compared to what he told investors yesterday.

In his letter on Wednesday, Cook revealed that Apple expected to end the quarter with $84 billion in revenue, which is down more than 7 percent from the $89 billion to $93 billion forecast the company predicted at the end of the last fiscal quarter 2018.

Cook put the revised guidance down to "lower than anticipated iPhone revenue, primarily in Greater China, [which] accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline."

The statement contrasts with Cook's comments on China during Apple's November Q4 2018 earnings call, in which he told investors that "our business in China was very strong last quarter. We grew 16 percent, which we're very happy with. iPhone in particular was very strong, very strong double-digit growth there."

Essentially, Bernstein Liebhard claims that the difference between the two statements represents "materially misleading business information" that has subsequently "damaged investors." It remains unclear how those allegations will stand up to scrutiny in a law court, however.

Following Cook's earnings call yesterday, Apple's stock fell to almost $12 per share, or over 7.5 percent, during aftermarket trading hours. The downgrade also sent shares in other companies with exposure to China tumbling over fears that the slowdown could affect other markets.

Cook said that the timing of the iPhone XS, XS Max, and XR launch compared to the timing of the iPhone X launch last year were set to impact year-over-year comparisons, as would the strength of the U.S. dollar. Cook also said that customers taking advantage of "significantly reduced pricing for iPhone battery replacements" was also a factor that led to fewer upgrades in 2018.


This article, "Investor Rights Law Firm Investigates Apple's Earnings Cut for 'Potential Securities Fraud'" first appeared on MacRumors.com

Discuss this article in our forums

from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2LOpz4F