Letter from Tim Cook to Apple Investors
&quot;...customers taking advantage of significantly reduced pricing for iPhone battery replacements&quot;<p>Very interesting that Apple included this as someone who took advantage of a $29 battery replacement for my 6S just last month. The chain of decisions that took place for this to happen should be a lesson for more companies.<p>I imagine it went something like this:<p>- Feedback that iPhones were shutting down unexpectedly due to degraded and&#x2F;or defective batteries.<p>- Instead of shouldering the battery replacement immediately, the product team decides to change the performance envelope of the phone.<p>- The root issue is not addressed.<p>- Betterygate™ inevitably happens.<p>- Apple heavily subsidizes battery replacements for everyone<p>- Some people decide that they&#x27;ll stick with their phone a bit longer than they otherwise would have, reducing iPhone sales.<p>- Apple misses their earnings target, likely costing them more in value than it would have cost them to address the root issue in the first place.<p>Of course there are other factors addressed in the letter, but this issue was notable enough to be included.