Here are your Apple rumors and AAPL news items for today:
Drainage: Some early purchasers of Apple’s (AAPL) new flagship iPhone have complained that their phones have significantly shorter battery life than expected, the New York Times notes. Now, Apple is confirming that there is a problem with a limited number of iPhone 5s units. A spokesman for the company says that it has identified a manufacturing issue that “could cause the battery to take longer to charge or result in reduced battery life” in a “very limited number” of the pricey handsets. Apple indicated that it is contacting people who purchased iPhones affected by the problem and will offer replacement units. The iPhone 5s was launched last month alongside the less-expensive iPhone 5c, which replaced last year’s iPhone 5. Apple has touted improved battery life in the iPhone 5s.
Defeat: After losing a patent lawsuit against Apple last week, Wi-Lan (WILN) has indicated that it may put itself up for sale, Bloomberg notes. The Canadian patent holding firm had sued Apple for infringing on three of its wireless technology patents. Wi-Lan had demanded $248 million in royalty payments from Apple. However, a Texas District Court jury ruled that Apple had not violated one patent, and declared the other two Wi-Lan patents named in the suit to be invalid. In the wake of the decision, Wi-Lan announced that it considering “the acquisition or disposition of assets, joint ventures, the sale of the company, alternative operating models or continuing with the current business plan.” The company’s shares plunged sharply after the ruling. Royalties from a portfolio of more than 3,000 patents comprise all of Wi-Lan’s revenues.
Investment: Regulatory filings reveal that Apple is spending more money than ever on research and development, AppleInsider notes. According to quarterly documents filed with the U.S. Securities and Exchange Commission (SEC), Apple spent $4.5 billion on R&D during fiscal 2013, up 32% from the prior year. In the documents, Apple noted that “focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company’s core business strategy.” During the fiscal year, Apple made $7 billion in capital expenditures, including the acquisition of facilities, retail space and manufacturing process equipment. Next year, the company forecasts capital spending to hit $11 billion. It expects to open 30 new retail stores during fiscal 2014. At the end of the last quarter, Apple had cash holdings of about $150 billion.
For more about the company, check out our previous Apple Rumors stories.