Connect with us

Hi, what are you looking for?

Stock

Apple makes surprise decision to pause some Watch sales before Christmas over patent dispute

Apple will pause U.S. sales of two of the latest versions of its Apple Watches due to an intellectual property dispute over their Blood Oxygen feature, the company said.

The decision stems from two orders issued by the U.S. International Trade Commission on Oct. 26, which would restrict Apple’s ability to sell products that use the Blood Oxygen feature after an intellectual property disagreement between Apple and Masimo, a medical technology company.

U.S. customers won’t see a change in their access to buying either watch until Thursday. Online sales of the Apple Watch Series 9 and Apple Watch Ultra 2 will pause at 3 p.m. Thursday and in stores after Sunday.

The White House had 60 days to review the restrictions, per ITC policy, or until Dec. 25, but Apple said it started the pause early to ensure it is compliant with the order if the ITC ruling holds up.

Apple’s stock closed down less than 1% Monday and Masimo posted a gain of just more than 3%.

If the decision stands, one of the ITC’s orders will bar Apple and its affiliates from importing watches that use the Blood Oxygen feature, as well as materials used to make that feature, according to the FTC document. The ITC’s second order, a cease and desist, instructs Apple to stop selling the products using the Blood Oxygen feature.

If the ITC’s order stands, Apple has said it plans to “take all measures” to resume the sales of both watches as soon as possible.

People who have already bought either of the two Apple Watches in question will not have any issues with their product, according to Apple, and there is no change to the availability of either model outside of the U.S.

Apple’s wearables, home and accessories unit is the company’s third-largest revenue generator, bringing in $9.3 billion in the company’s last quarter.

In a statement, Apple wrote that the company “strongly disagrees with the order and is pursuing a range of legal and technical options to ensure that Apple Watch is available to customers.”

Masimo said that the ITC ruling shows that “even the world’s most powerful company must abide by the law” in a statement.

This post appeared first on NBC NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    The presidents of Spain’s regional soccer federations are calling for the resignation of Luis Rubiales, the suspended president of the National Football Association, in...

    Latest News

    Luis Rubiales on Sunday resigned from his position as president of the Spanish soccer federation following weeks of fierce criticism over his unwanted kiss...

    Editor's Pick

    When searching for world-class gold deposits, mining companies prefer high-grade, near-surface mineralization. Epithermal gold deposits check these boxes and more. While gold is often...

    Editor's Pick

    Overview A lot can change in two years — just look at Brazil. Best described as a bit player in the lithium space only...

    Disclaimer: dividendsgrowth.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 dividendsgrowth.com