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Apple to resume sales of watches without blood oxygen feature

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1 year ago

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Apple plans to remove a blood oxygen monitoring feature from two flagship Apple Watch models in the United States amid a legal battle over patents on the technology behind the feature.

The feature, marketed for fitness purposes, could take a year to resolve. Analysts had expected Apple to strike the feature rather than remove devices from sale in one of its biggest markets.

The company said Apple Watch Series 9 and Ultra 2 models without the feature would go on sale on its website and stores starting at 6 am Pacific Time on Thursday.

Apple shares closed 0.5% lower at $182.68 after the US Court of Appeals for the Federal Circuit ruled on Wednesday the company could no longer sell the models at the centre of a legal battle with medical technology company Masimo.

In December, Masimo secured a decision from the US International Trade Commission (ITC) to halt imports of Apple Watches which, according to Counterpoint Research, comprise about a quarter of the global smartwatch market.

In a statement, Joe Kiani, Masimo’s founder and chief executive, said the court ruling on Wednesday “affirms that even the largest and most powerful companies must respect the intellectual rights of American inventors and must deal with the consequences when they are caught infringing others’ patents.”

Apple said it “strongly disagreed” with the ITC decision and resulting orders and they should be reversed, Reuters reported.

Existing Apple Watches are not affected by the orders, nor are devices sold outside the US.

Series 9 and Ultra 2 models sold in the US from Thursday will still have an app icon for the blood oxygen features. But when users tap those icons, they will informed the features are unavailable.

Ben Bajarin, chief executive of analyst firm Creative Strategies, had expected Apple to disable the blood oxygen features on its Series 9 and Ultra 2 Apple Watch models in the US rather than stop selling the wearable devices.

Apple’s watches, which accounted for $39.84 billion of its overall $383.29 billion in sales for fiscal 2023, accounted for 42% of its overall revenue from North America, despite its smaller sales figures compared to its flagship iPhone.

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Business

The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

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As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

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In January 2025, RDA inflows reach 9.564 billion USD.

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Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

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FBR lowers Karachi’s built-up structure property valuation rates

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A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

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