In an interview with Rebecca Jarvis of ABC News, Apple CEO Tim Cook touched on the ongoing controversy over power management features in older iPhones. He says that a future update will allow customers to turn off the power management feature that has caused older iPhones to slow down. Mac Rumors reports: According to Cook, when the power management features were first introduced in iOS 10.2.1, Apple did explain what was going on, but following the controversy, he believes Apple should have been clearer. The company did indeed mention that the shutdown issue was caused by uneven power delivery and explained that its power management system had been tweaked, but there was no clear notice that it could cause devices to operate more slowly at times. Cook says Apple "deeply apologizes" to customers who thought the company had other motivations. Apple is introducing better battery monitoring features in a future iOS update, and Cook says Apple will also allow customers to turn off the power management feature, which is new information that the company has not previously shared. The majority of the interview was focused on the announcements that Apple made today. The company plans to contribute $350 billion in the U.S. economy over the next five years, as well as issue employees a bonus of $2,500 of restricted stock units following the introduction of the new U.S. tax law.
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Apple told employees that it's issuing a bonus of $2,500 of restricted stock units, following the introduction of the new U.S. tax law. "The iPhone maker will begin issuing grants to most employees worldwide in the coming months," reports Bloomberg. Apple also announced today that it would bring back most of its cash from overseas and spend $30 billion in the U.S. over the next five years. From the report: Apple confirmed the bonuses in response to a Bloomberg inquiry Wednesday. The Cupertino, California-based company joins a growing list of American businesses that have celebrated the introduction of corporate-friendly tax law with one-time bonuses for staff. AT&T, Comcast, JetBlue, and Wal-Mart also said they were giving bonuses.
Apple said on Wednesday it will invest $350 billion in the U.S. economy over the next five years, touting the creation of 20,000 new jobs and a new campus thanks, in part, to the prospect of tax reform. From a report: The company said it expects tax repatriation payments of about $38 billion, indicating that it will bring a portion of its $250 billion overseas cash back to the U.S. As of November, the company had $268.9 billion in cash, both domestically and overseas. The job creation will focus on direct employment, but also suppliers and its app business, which it had already planned to grow substantially. "We have a deep sense of responsibility to give back to our country and the people who help make our success possible," chief executive Tim Cook said in a statement.