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Apple will pay up to $500 million in iPhone throttling lawsuit

Apple has agreed to pay up to $500 million to settle litigation accusing it of slowing down older iPhones to encourage owners to buy replacement phones or batteries, reports Reuters.

The preliminary proposed class-action settlement requires approval by U.S. District Judge Edward Davila in San Jose, California. It calls for Apple to pay consumers $25 per iPhone, which may be adjusted up or down depending on how many iPhones are eligible, with a minimum total payout of $310 million. Reuters says Apple denied wrongdoing and settled the nationwide case to avoid the burdens and costs of litigation.

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