Apple received an overwhelming response for its $29 replacement program. How overwhelming? Over 10 times over what the company had been expecting.
According to Daring Fireball’s John Gruber, Apple replaced 11 million iPhone batteries during the course of the program, while it was expecting these numbers to be around one or two million batteries.
Since 11 million batteries were replaced, a potential new buyer who would have shelled out $1,000 instead went for a new battery at $29. In terms of revenue, it set back $11 billion, GadgetsNow reported.
This figure was revealed in CEO Tim Cook's recent meeting with his employees, where he reportedly also talked about pulling back on hiring.
The battery replacement program that ran through the most of 2018 (January - 31 December) allowed owners of the iPhone 6 and newer models to replace their battery for $29.
The program was launched after devices with older batteries started slowing down. Battery replacements helped iPhones operate at peak performance again, according to CNBC.
CEO Tim Cook also said that some customers were taking advantage of the program.
This comes after Apple has been facing lower revenue and slowing down of iPhone sales. According to reports, Apple has also cut down on the production of iPhones.
(With inputs from CNBC and GadgetsNow.)
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