Apple pays up to $ 500 million to settle iPhone slowdown lawsuit

Apple Inc has agreed to pay up to $ 500 million to settle a lawsuit that accuses the company of slowing down older iPhone models after launching new ones.

Under a preliminary class action settlement agreement, Apple is expected to pay consumers $ 25 for every iPhone. The amount may vary depending on the number of phones, the minimum total payout is $ 310 million.

Apple denies the allegations and settled the case to avoid additional costs, court documents showed.

The company did not respond to requests for comment.

Consumers say their phones have been deteriorating after they installed the Apple software update. According to them, this led them astray, forcing them to think that they would soon have to change phones or buy new batteries.

Apple primarily associates these problems with temperature spikes, heavy usage, and other factors, and said its engineers are quickly and successfully working to fix them.