Apple's (AAPL) Korean Unit Pays First User-Tracking Settlement
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Price: $315.32 -0.28%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
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Apple (Nasdaq: AAPL) has paid out it's first settlement following allegations of tracking on the iPhone 4.
It's it in the billions? No. How about the millions? Nope. Thousands? Close.
According to Reuters, Apple paid a handsomely sum of 1 million won, or about $946, to South Korean lawyer Kim Hyung-suk. The payment was made by Apple's Korean unit.
The Cupertino, CA-based media and mobile giant had come under fire recently for tracking of users on the iPhone 4. In May, Apple released an update for iOS which would fix the "problem" for users.
This may be the first of many settlements for Apple over the tracking case. According to reports over the last few months, groups of iPhone and iPad users have filed complaints against Apple alleging that some personal data was being passed on to third-party advertisers without user consent.
With 18.65 million iPhones sold in the first quarter alone, and millions of iPads added on top of that, the settlement may start to become costly for Apple.
Shares are up modestly early Thursday.
It's it in the billions? No. How about the millions? Nope. Thousands? Close.
According to Reuters, Apple paid a handsomely sum of 1 million won, or about $946, to South Korean lawyer Kim Hyung-suk. The payment was made by Apple's Korean unit.
The Cupertino, CA-based media and mobile giant had come under fire recently for tracking of users on the iPhone 4. In May, Apple released an update for iOS which would fix the "problem" for users.
This may be the first of many settlements for Apple over the tracking case. According to reports over the last few months, groups of iPhone and iPad users have filed complaints against Apple alleging that some personal data was being passed on to third-party advertisers without user consent.
With 18.65 million iPhones sold in the first quarter alone, and millions of iPads added on top of that, the settlement may start to become costly for Apple.
Shares are up modestly early Thursday.
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