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APPLE (AAPL)
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Apple : Brazilian agency requires Apple to inform consumers on batteries

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01/03/2018 | 08:01pm CEST
FILE PHOTO: A man tries to repair an iPhone in a repair store in New York

SAO PAULO (Reuters) - A Brazilian state agency responsible for consumer issues notified Apple Inc on Wednesday that it must explain how Brazilian owners of iPhones will be able to buy battery replacements at lower prices.

Procon-SP, an agency in the state of Sao Paulo, Brazil's richest and most populous, said in a statement it notified Apple that it has 10 days to provide the information.

The agency said Apple employees refused to sign the notification, but Procon considered the company notified.

The agency did not say what could happen if Apple does not comply, but it has the power to fine or propose legal action against companies for causing losses to consumers.

Press representatives for Apple in Brazil did not reply to requests for comment.

Apple apologised on Dec. 28 over its handling of the battery issue and said it would make a number of changes for customers. The company said it would cut the price of an out-of-warranty battery replacement from $79 to $29 for an iPhone 6 or later, starting this month.

(Reporting by Gabriela Mello; Writing by Tatiana Bautzer; Editing by Alistair Bell)

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Financials ($)
Sales 2018 261 B
EBIT 2018 69 304 M
Net income 2018 57 782 M
Finance 2018 135 B
Yield 2018 1,41%
P/E ratio 2018 16,66
P/E ratio 2019 14,48
EV / Sales 2018 3,09x
EV / Sales 2019 3,07x
Capitalization 941 B
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Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Technical analysis trends APPLE
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 201 $
Spread / Average Target 5,1%
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Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer, SVP & VP-Human Resources
Kevin M. Lynch Vice President-Technology
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