Apple has reached a $490 million settlement to resolve a class-action
lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by
concealing falling demand for iPhones in China.

It stemmed from Apple’s unexpected announcement on Jan. 2, 2019, that the
iPhone maker would slash its quarterly revenue forecast by up to $9
billion, blaming U.S.-China trade tensions.

Cook had told investors on an Nov. 1, 2018, analyst call that although
Apple faced sales pressure in markets such as Brazil, India, Russia and
Turkey, where currencies had weakened, “I would not put China in that
category.”

Apple told suppliers a few days later to curb production.

The lowered revenue forecast was Apple’s first since the iPhone’s launch in
2007. Shares of Apple fell 10% the next day, wiping out $74 billion of
market value.

Apple and its lawyers did not immediately respond to requests for comment
on the ruling.

https://www.cnbc.com/2024/03/15/apple-reaches-490-million-settlement-over-tim-cooks-china-sales-comments-.html

On 3/17/2024 3:34 AM, badgolferman wrote:
> Apple has reached a $490 million settlement to resolve a class-action
> lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by
> concealing falling demand for iPhones in China.
>
> It stemmed from Apple’s unexpected announcement on Jan. 2, 2019, that the
> iPhone maker would slash its quarterly revenue forecast by up to $9
> billion, blaming U.S.-China trade tensions.
>
> Cook had told investors on an Nov. 1, 2018, analyst call that although
> Apple faced sales pressure in markets such as Brazil, India, Russia and
> Turkey, where currencies had weakened, “I would not put China in that
> category.”
>
> Apple told suppliers a few days later to curb production.
>
> The lowered revenue forecast was Apple’s first since the iPhone’s launch in
> 2007. Shares of Apple fell 10% the next day, wiping out $74 billion of
> market value.
>
> Apple and its lawyers did not immediately respond to requests for comment
> on the ruling.
>
> https://www.cnbc.com/2024/03/15/apple-reaches-490-million-settlement-over-tim-cooks-china-sales-comments-.html

What exactly did he say? Did he mean that the Chinese currency had not
weakened (which was true) and did he mean the the iPhone faced sales
pressure, but not because of the currency (also true)?

Apple has always faced sales pressure in China, for multiple reasons.

For a long time, there were no dual SIM iPhones, which greatly affected
sales, then Apple began selling dual SIM iPhones only in China (which is
still the case) but it happened very late.

There was the nationalistic issue regarding the U.S. in Huawei that
negatively affected iPhone sales since Apple is a U.S. company.

There is still the issue of the iPhone App store versus the plethora of
Android app stores, and the larger number of Chinese language apps for
Android.

In China, the iPhone is considered a luxury item, along the line of
Louis Vuitton bags and Hermès scarves. Regular Chinese citizens are more
likely to buy a Xiamoi, OnePlus, or Oppo phone since their flagship
models are better, in some ways, than the flagship iPhones.

Finally, iMessage has no appeal in China where everyone uses WeChat, and
since most Chinese use Android devices where iMessage is not available.

--
“If you are not an expert on a subject, then your opinions about it
really do matter less than the opinions of experts. It's not
indoctrination nor elitism. It's just that you don't know as much as
they do about the subject.”—Tin Foil Awards

badgolferman wrote:

> Apple told suppliers a few days later to curb production.

Do you think maybe Tim Cook lied to the shareholders?

Indira <indira@ghandi.net> wrote:
> badgolferman wrote:
>
>> Apple told suppliers a few days later to curb production.
>
> Do you think maybe Tim Cook lied to the shareholders?
>

Apple “settling” all these lawsuits is causing a smear on their good name.
At some point you need to protect your reputation, which is built on your
word and products.

On Sun, 17 Mar 2024 22:02:42 -0000 (UTC), badgolferman wrote:

>>> Apple told suppliers a few days later to curb production.
>>
>> Do you think maybe Tim Cook lied to the shareholders?
>>
>
> Apple �settling� all these lawsuits is causing a smear on their good name.
> At some point you need to protect your reputation, which is built on your
> word and products.

Apple knows they're lying when they're lying, where Apple allocates a few
billion dollars a year (which is nothing to them) to settle the claims.

Lying is just part of Apple's basic business plan.

Remember, that people were "holding the phone wrong" and that they secretly
throttled batteries to "prolong the life of the phone" and that they
secretly backdated the release notes to "make it less confusing", etc.

Apple uses the same model as Big Tobacco did in lying to the consumer.

Oh, I forgot, the charger. It's because having everyone buy their own
charger is green for the environment, somehow, where the shipping alone for
billions of chargers to replace the empty Apple iPhone box causes more
pollution than Apple saved in making the box tiny without the charger.

On 17.03.24 19:23, sms wrote:
> On 3/17/2024 3:34 AM, badgolferman wrote:
>> Apple has reached a $490 million settlement to resolve a class-action
>> lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by
>> concealing falling demand for iPhones in China.
>>
>> It stemmed from Apple’s unexpected announcement on Jan. 2, 2019, that the
>> iPhone maker would slash its quarterly revenue forecast by up to $9
>> billion, blaming U.S.-China trade tensions.
>>
>> Cook had told investors on an Nov. 1, 2018, analyst call that although
>> Apple faced sales pressure in markets such as Brazil, India, Russia and
>> Turkey, where currencies had weakened, “I would not put China in that
>> category.”
>>
>> Apple told suppliers a few days later to curb production.
>>
>> The lowered revenue forecast was Apple’s first since the iPhone’s launch in
>> 2007. Shares of Apple fell 10% the next day, wiping out $74 billion of
>> market value.
>>
>> Apple and its lawyers did not immediately respond to requests for comment
>> on the ruling.
>>
>> https://www.cnbc.com/2024/03/15/apple-reaches-490-million-settlement-over-tim-cooks-china-sales-comments-.html
>
> What exactly did he say? Did he mean that the Chinese currency had not
> weakened (which was true) and did he mean the the iPhone faced sales
> pressure, but not because of the currency (also true)?
>
> Apple has always faced sales pressure in China, for multiple reasons.
>
> For a long time, there were no dual SIM iPhones, which greatly affected
> sales, then Apple began selling dual SIM iPhones only in China (which is
> still the case) but it happened very late.

Utter bullshit and you are lying like always or worse you simulate to
have knowledge about smarphones. Dual SIM on iPhones exist for years
outside China. In Europe we can choose since e-SIM exist.

--
"Manus manum lavat."

Joerg Lorenz <hugybear@gmx.net> wrote:
> On 17.03.24 19:23, sms wrote:
>> On 3/17/2024 3:34 AM, badgolferman wrote:
>>> Apple has reached a $490 million settlement to resolve a class-action
>>> lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by
>>> concealing falling demand for iPhones in China.
>>>
>>> It stemmed from Apple’s unexpected announcement on Jan. 2, 2019, that the
>>> iPhone maker would slash its quarterly revenue forecast by up to $9
>>> billion, blaming U.S.-China trade tensions.
>>>
>>> Cook had told investors on an Nov. 1, 2018, analyst call that although
>>> Apple faced sales pressure in markets such as Brazil, India, Russia and
>>> Turkey, where currencies had weakened, “I would not put China in that
>>> category.”
>>>
>>> Apple told suppliers a few days later to curb production.
>>>
>>> The lowered revenue forecast was Apple’s first since the iPhone’s launch in
>>> 2007. Shares of Apple fell 10% the next day, wiping out $74 billion of
>>> market value.
>>>
>>> Apple and its lawyers did not immediately respond to requests for comment
>>> on the ruling.
>>>
>>> https://www.cnbc.com/2024/03/15/apple-reaches-490-million-settlement-over-tim-cooks-china-sales-comments-.html
>>
>> What exactly did he say? Did he mean that the Chinese currency had not
>> weakened (which was true) and did he mean the the iPhone faced sales
>> pressure, but not because of the currency (also true)?
>>
>> Apple has always faced sales pressure in China, for multiple reasons.
>>
>> For a long time, there were no dual SIM iPhones, which greatly affected
>> sales, then Apple began selling dual SIM iPhones only in China (which is
>> still the case) but it happened very late.
>
> Utter bullshit and you are lying like always or worse you simulate to
> have knowledge about smarphones. Dual SIM on iPhones exist for years
> outside China. In Europe we can choose since e-SIM exist.
>
>
>

It’s downright blasphemy, jughead!