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Apple to resume sales of watches without blood oxygen feature

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10 months 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

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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2 days ago

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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2 days ago

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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