Tim Cook to investors: people bought fewer new iPhones because they repaired their old ones - Apple finally says that repair hurts its bottom line.
Wednesday, Apple CEO Tim Cook wrote a letter to investors alerting them that the company would miss its revenue targets in part because Apple didn’t sell as many iPhones as it expected. The lengthy letter cites, specifically, that people are buying fewer iPhones because they are repairing their old ones.
Apple has long fought efforts that would make iPhones easier to repair: It has lobbied against right to repair efforts in several states, doesn’t sell iPhone replacement parts, sued an independent repair professional in Norway, worked with Amazon to get iPhone and MacBook refurbishers kicked off Amazon Marketplace, and has deals with electronics recyclers that require them to shred iPhones and MacBooks (as opposed to allowing them to be refurbished.) The Department of Homeland Security, meanwhile, has seized iPhone replacement parts from prominent right to repair activists in the United States.