Apple Inc (NASDAQ:AAPL)., the Cupertino-based tech giant, has acknowledged that a software bug and issues with popular apps like Instagram and Uber (NYSE:UBER) have been causing its recently released iPhone 15 models to overheat. The news came to light on Saturday, following various complaints from users that the phones were uncomfortably hot to handle.
Apple stated it is working on an update for iOS17, the operating system powering the entire iPhone 15 lineup, aiming to alleviate the overheating issue and manage apps causing system overload. Earlier in the week, Meta-owned Instagram had adjusted its app to prevent it from excessively heating up the phone on the latest operating system. As for Uber and other apps such as the video game Asphalt 9, updates are still being rolled out.
The company has not yet provided a timeline for its own software patch release but assured that no security issues would prevent iPhone 15 owners from using their devices while awaiting the update. "We have identified a few conditions which can cause iPhone to run warmer than expected," Apple stated in response to media reports of overheating complaints appearing on online message boards.
Apple also clarified that the overheating problem in the new models was not related to changes in charging hardware. The company recently switched from its proprietary Lightning charging cable to a more widely used USB-C port, in compliance with European Union regulations.
While Apple remains confident that the overheating issue can be swiftly resolved through upcoming software updates, this problem has emerged at a challenging time for the company. Apple has reported three consecutive quarters of year-on-year declines in overall sales, partly due to a slowdown in iPhone sales. According to InvestingPro Data, the revenue growth for Apple in the last twelve months till the third quarter of 2023 was -0.93%. In the last three fiscal quarters, iPhone sales have fallen by a total of 4% compared to the previous year.
Apple has dismissed speculation linking the overheating issue with changes in housing materials for its new models. The company emphasized that the problem was not related to the new titanium casing used for the iPhone 15 models, as opposed to the stainless steel used on older smartphones.
However, it's important to note that despite these challenges, Apple has shown resilience. According to InvestingPro Tips, the company has raised its dividend for 11 consecutive years and has maintained dividend payments for 12 consecutive years. Moreover, Apple has been profitable over the last twelve months and the company's management has been aggressively buying back shares, reflecting their confidence in the company's future prospects. For more insights, visit InvestingPro that offers additional 15 tips about Apple.
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