Microsoft briefly overtook Apple on Monday as the world's most valuable company by market capitalization before slipping back into second place.

Near 1800 GMT, Microsoft hit an overall market capitalization of $812.9 billion, just ahead of Apple's $812.6 billion, according to Bloomberg News.

However, Microsoft's surge to the top spot was short-lived. In late-afternoon trading, Apple's value was $822.9 billion, about $7 billion above Microsoft's.

Microsoft shares rose 0.6 per cent Tuesday, pushing the company’s market value to $828.1 billion at the close. Currently, Microsoft ranks second behind Amazon Web Services in the cloud.

The multinational company had experienced a downfall after computing shifted from desktop machines to mobile devices like iPhones.

Microsoft had tried regaining its lost dominance by acquiring Nokia’s handset business and releasing its own phones. The attempts, however, led to further decline.

Microsoft's fortune changed after the company invested heavily in data centers and other infrastructure to run applications and store data for corporate customers.

Microsoft also stopped manufacturing smartphone hardware, while boosting the quality of its tablet and PC designs.

Apple has been under pressure since a November 1 earnings announcement when it reported strong jumps in quarterly profits but notched weaker-than-anticipated iPhone sales and a disappointing outlook for the key holiday period.

(With inputs from agencies)

Microsoft briefly overtook Apple on Monday as the world's most valuable company by market capitalization before slipping back into second place. Near 1800 GMT, Microsoft hit an overall market capitalization of $812.

Microsoft briefly overtook Apple on Monday as the world's most valuable company by market capitalization before slipping back into second place. Near 1800 GMT, Microsoft hit an overall market capitalization of $812.9 billion, just ahead of Apple's $812.6 billion, according to Bloomberg News. However, Microsoft's surge to the top spot was short-lived. In late-afternoon trading, Apple's value was $822.9 billion, about $7 billion above Microsoft's. Microsoft shares rose 0.6 per cent Tuesday, pushing the company’s market value to $828.1 billion at the close. Currently, Microsoft ranks second behind Amazon Web Services in the cloud. The multinational company had experienced a downfall after computing shifted from desktop machines to mobile devices like iPhones. Microsoft had tried regaining its lost dominance by acquiring Nokia’s handset business and releasing its own phones. The attempts, however, led to further decline. Microsoft's fortune changed after the company invested heavily in data centers and other infrastructure to run applications and store data for corporate customers. Microsoft also stopped manufacturing smartphone hardware, while boosting the quality of its tablet and PC designs. Apple has been under pressure since a November 1 earnings announcement when it reported strong jumps in quarterly profits but notched weaker-than-anticipated iPhone sales and a disappointing outlook for the key holiday period. (With inputs from agencies)

Microsoft beats Apple to become world's most valuable company 

US stocks dropped and the Nasdaq fell 3 per cent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market.

Conflicting signals over the state of play between the United States and China on their trade dispute added to caution in the market.

Shares of Apple Inc fell after the Wall Street Journal reported the company had cut production orders in recent weeks for all three iPhone models launched in September.

The iPhone maker's stock dropped 4.0 per cent to $185.86 and is now down 19.9 per cent from its October 3 record closing high in the wake of a disappointing holiday quarter sales forecast and weak outlooks from several suppliers. The S&amp;P 500 technology index, down 3.8 per cent, led sector losses.

Other market leaders - including the 'FANG' stocks - also fell sharply. Shares of Facebook&nbsp;were down 5.7 per cent, Amazon.com was down 5.1 per cent, Netflix fell 5.5 per cent and Alphabet fell 3.8 per cent.

Since the FANG outperformance run peaked on August 30, the group has underperformed the S&amp;P 500 by 16.25 per cent. That is their worst underperformance since the first half of 2014 when they underperformed by around 20 per cent.

"You're seeing that rotation away from tech. Certainly, the indexes are much more growth-oriented because of the sheer size of those companies now, and they dominate the indexes," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "You're going to have more underperformance of the growth names."

The S&amp;P utilities and real estate sectors were the only two that ended in positive territory.

The Dow Jones Industrial Average fell 395.78 points, or 1.56 per cent, to 25,017.44, the S&amp;P 500 lost 45.54 points, or 1.66 per cent, to 2,690.73 and the Nasdaq Composite dropped 219.40 points, or 3.03 per cent, to 7,028.48.

Comments by New York Federal Reserve President John Williams on Monday that the US central bank is pushing ahead with gradual rate-hike plans next month as it marches towards a more normal policy stance may have added pressure to stocks.

Some investors questioned whether the Fed will be able to continue raising interest rates, possibly harming growth.

Richard Clarida, the Fed's newly appointed vice chair, said on Friday that US rates are nearing Fed estimates of a neutral rate, which "makes sense."

Over the weekend, Asia-Pacific leaders meeting in Papua New Guinea failed to agree on a communique for the first time, with US-China trade worries on the forefront.

US Vice President Mike Pence said in a blunt speech on Saturday the United States will not back down from its trade dispute with China unless Beijing bows to US demands, dampening Friday's trade optimism that was fuelled by comments from President Donald Trump.

Shares of Apple suppliers were also hit, including Lumentum Holdings Inc, Universal Display Corp, Cirrus Logic Inc and Skyworks Solutions Inc.

The Philadelphia SE Semiconductor index, which includes some Apple suppliers, dropped 3.9 per cent, extending losses from the previous session.

"Lots of times we get a rally started the Friday after Thanksgiving, which is this week. If some of these dominos fall on the positive side, we could see this trend reverse," said Bucky Hellwig, senior vice president at BB&amp;T Wealth Management in Birmingham, Alabama.

"But right now there are several things working against the market - the Fed, the uncertainty with regard to the trade deal with China and some sector disappointments, particularly in technology."

Trading volumes were thin at the start of the holiday-shortened week ahead of Thanksgiving on Thursday and a shorter session on Friday, which brings slight volatility to markets, traders said.

About 7.7 billion shares changed hands on US exchanges. That compares with the 8.7 billion daily average for the past 20 trading days.

Declining issues outnumbered advancing ones on the NYSE by a 2.72-to-1 ratio; on Nasdaq, a 2.94-to-1 ratio favoured decliners.

The S&amp;P 500 posted 28 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 17 new highs and 159 new lows.

US stocks dropped and the Nasdaq fell 3 per cent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market.

US stocks dropped and the Nasdaq fell 3 per cent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market. Conflicting signals over the state of play between the United States and China on their trade dispute added to caution in the market. Shares of Apple Inc fell after the Wall Street Journal reported the company had cut production orders in recent weeks for all three iPhone models launched in September. The iPhone maker's stock dropped 4.0 per cent to $185.86 and is now down 19.9 per cent from its October 3 record closing high in the wake of a disappointing holiday quarter sales forecast and weak outlooks from several suppliers. The S&P 500 technology index, down 3.8 per cent, led sector losses. Other market leaders - including the 'FANG' stocks - also fell sharply. Shares of Facebook were down 5.7 per cent, Amazon.com was down 5.1 per cent, Netflix fell 5.5 per cent and Alphabet fell 3.8 per cent. Since the FANG outperformance run peaked on August 30, the group has underperformed the S&P 500 by 16.25 per cent. That is their worst underperformance since the first half of 2014 when they underperformed by around 20 per cent. "You're seeing that rotation away from tech. Certainly, the indexes are much more growth-oriented because of the sheer size of those companies now, and they dominate the indexes," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "You're going to have more underperformance of the growth names." The S&P utilities and real estate sectors were the only two that ended in positive territory. The Dow Jones Industrial Average fell 395.78 points, or 1.56 per cent, to 25,017.44, the S&P 500 lost 45.54 points, or 1.66 per cent, to 2,690.73 and the Nasdaq Composite dropped 219.40 points, or 3.03 per cent, to 7,028.48. Comments by New York Federal Reserve President John Williams on Monday that the US central bank is pushing ahead with gradual rate-hike plans next month as it marches towards a more normal policy stance may have added pressure to stocks. Some investors questioned whether the Fed will be able to continue raising interest rates, possibly harming growth. Richard Clarida, the Fed's newly appointed vice chair, said on Friday that US rates are nearing Fed estimates of a neutral rate, which "makes sense." Over the weekend, Asia-Pacific leaders meeting in Papua New Guinea failed to agree on a communique for the first time, with US-China trade worries on the forefront. US Vice President Mike Pence said in a blunt speech on Saturday the United States will not back down from its trade dispute with China unless Beijing bows to US demands, dampening Friday's trade optimism that was fuelled by comments from President Donald Trump. Shares of Apple suppliers were also hit, including Lumentum Holdings Inc, Universal Display Corp, Cirrus Logic Inc and Skyworks Solutions Inc. The Philadelphia SE Semiconductor index, which includes some Apple suppliers, dropped 3.9 per cent, extending losses from the previous session. "Lots of times we get a rally started the Friday after Thanksgiving, which is this week. If some of these dominos fall on the positive side, we could see this trend reverse," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "But right now there are several things working against the market - the Fed, the uncertainty with regard to the trade deal with China and some sector disappointments, particularly in technology." Trading volumes were thin at the start of the holiday-shortened week ahead of Thanksgiving on Thursday and a shorter session on Friday, which brings slight volatility to markets, traders said. About 7.7 billion shares changed hands on US exchanges. That compares with the 8.7 billion daily average for the past 20 trading days. Declining issues outnumbered advancing ones on the NYSE by a 2.72-to-1 ratio; on Nasdaq, a 2.94-to-1 ratio favoured decliners. The S&P 500 posted 28 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 17 new highs and 159 new lows.

Wall Street tumbles as Apple, internet stocks swoon

Wall Street crumbled on Monday as fears for demand in the tech sector turned into a broader retreat from stocks while oil prices slid to an 11th straight day of losses despite a Saudi offer to limit output.

European equities also closed lower with Frankfurt and Paris weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU-deadline for Rome to revise its 2019 budget.

Trading got off to a bad start in New York, with Apple shares declining after a key parts supplier said a client had cut orders significantly, stoking fears of waning demand for iPhones.

"The ecosystem of the supply chain around Apple is starting to feel the slide of demand," Matt Miskin of John Hancock told AFP, noting that he still expected robust holiday season performance in the tech sector.

"With a weaker global growth, tech companies are starting to get repriced lower."

But a general rout ensued for stocks. Investment bank Goldman Sachs also fell 7.5 per cent, weighing on the financial sector, while embattled engineering giant General Electric had its lowest close in nearly a decade.

The Dow and S&amp;P 500 both lost two per cent or more while the tech-heavy Nasdaq dropped 2.8 per cent. Shares in Apple closed down more than five per cent.

Treasury bond markets closed for a public holiday.

By mid-afternoon, the broad-based slide prompted President Donald Trump to point the finger, while citing no evidence, at congressional Democrats, who won control of the House of Representatives in last week's elections.

"The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!" he wrote on Twitter. Markets had rallied the day after the vote.

Meanwhile, Bloomberg reported Monday afternoon that Trump was considering unveiling fresh auto tariffs, erasing gains by General Motors and helping push markets even lower.

Earlier in the Eurozone, the Frankfurt and Paris stock markets had dropped as well, weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU deadline for Rome to revise its 2019 budget.

The dollar continued to strengthen against its major rivals, meanwhile, hitting its highest levels since the first half of 2017.

The European Union's chief Brexit negotiator warned ministers from the other 27 member states on Monday that no deal has been sealed on Britain's departure from the bloc.

Elsewhere, Saudi Arabia's energy minister called for a global output cut of a million barrels per day to re-balance the market, as Riyadh unveiled plans to trim its own production by 500,000 barrels per day from December.

Khalid al-Falih's comments follow a meeting in Abu Dhabi at the weekend, where the OPEC group and its allies had already started laying the groundwork to reduce supply in 2019.

Benchmark crude prices still finished lower in New York and London. Oil prices have shed about one-fifth of their value over the past month on oversupplies and signs of a softer-than-expected impact from US sanctions on Iranian crude exports.

Last week, higher US energy stockpiles drove WTI crude to its longest losing streak in more than 30 years, while Brent dropped below $70 a barrel for the first time since April.

Tobacco stocks also suffered following media reports that US health regulators expect to announce plans as soon as this week to seek a ban on menthol cigarettes and to limit sales of e-cigarettes.

British American Tobacco shedding 10.62 per cent to £29.96 and Imperial Tobacco losing almost 2.2 per cent on reports of a planned US ban on menthol cigarettes, which researchers have said pose a greater health risk than traditional ones.

American tobacco producers likewise headed south on the news.

Wall Street crumbled on Monday as fears for demand in the tech sector turned into a broader retreat from stocks while oil prices slid to an 11th straight day of losses despite a Saudi offer to limit output.

Wall Street crumbled on Monday as fears for demand in the tech sector turned into a broader retreat from stocks while oil prices slid to an 11th straight day of losses despite a Saudi offer to limit output. European equities also closed lower with Frankfurt and Paris weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU-deadline for Rome to revise its 2019 budget. Trading got off to a bad start in New York, with Apple shares declining after a key parts supplier said a client had cut orders significantly, stoking fears of waning demand for iPhones. "The ecosystem of the supply chain around Apple is starting to feel the slide of demand," Matt Miskin of John Hancock told AFP, noting that he still expected robust holiday season performance in the tech sector. "With a weaker global growth, tech companies are starting to get repriced lower." But a general rout ensued for stocks. Investment bank Goldman Sachs also fell 7.5 per cent, weighing on the financial sector, while embattled engineering giant General Electric had its lowest close in nearly a decade. The Dow and S&P 500 both lost two per cent or more while the tech-heavy Nasdaq dropped 2.8 per cent. Shares in Apple closed down more than five per cent. Treasury bond markets closed for a public holiday. By mid-afternoon, the broad-based slide prompted President Donald Trump to point the finger, while citing no evidence, at congressional Democrats, who won control of the House of Representatives in last week's elections. "The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!" he wrote on Twitter. Markets had rallied the day after the vote. Meanwhile, Bloomberg reported Monday afternoon that Trump was considering unveiling fresh auto tariffs, erasing gains by General Motors and helping push markets even lower. Earlier in the Eurozone, the Frankfurt and Paris stock markets had dropped as well, weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU deadline for Rome to revise its 2019 budget. The dollar continued to strengthen against its major rivals, meanwhile, hitting its highest levels since the first half of 2017. The European Union's chief Brexit negotiator warned ministers from the other 27 member states on Monday that no deal has been sealed on Britain's departure from the bloc. Elsewhere, Saudi Arabia's energy minister called for a global output cut of a million barrels per day to re-balance the market, as Riyadh unveiled plans to trim its own production by 500,000 barrels per day from December. Khalid al-Falih's comments follow a meeting in Abu Dhabi at the weekend, where the OPEC group and its allies had already started laying the groundwork to reduce supply in 2019. Benchmark crude prices still finished lower in New York and London. Oil prices have shed about one-fifth of their value over the past month on oversupplies and signs of a softer-than-expected impact from US sanctions on Iranian crude exports. Last week, higher US energy stockpiles drove WTI crude to its longest losing streak in more than 30 years, while Brent dropped below $70 a barrel for the first time since April. Tobacco stocks also suffered following media reports that US health regulators expect to announce plans as soon as this week to seek a ban on menthol cigarettes and to limit sales of e-cigarettes. British American Tobacco shedding 10.62 per cent to £29.96 and Imperial Tobacco losing almost 2.2 per cent on reports of a planned US ban on menthol cigarettes, which researchers have said pose a greater health risk than traditional ones. American tobacco producers likewise headed south on the news.

Wall Street stocks: Dow & Nasdaq tumble; oil prices continue to slide

Apple said on Friday it had found some issues affecting some of its iPhone X and 13-inch MacBook pro products and said the company would fix them free of charge.

The repair offers are the latest in a string of product quality problems over the past year even as Apple has raised prices for most of its laptops, tablets and phones to new heights. Its top-end iPhones now sell for as much as $1,449 and its best iPad goes for as much as $1,899.

Apple said displays on iPhone X, which came out in 2017 with a starting price of $999, may experience touch issues due to a component failure, adding it would replace those parts for free. The company said it only affects the original iPhone X, which has been superseded by the iPhone XS and XR released this autumn.

The screens on affected phones may not respond correctly to touch or it could react even without being touched, the Cupertino, California-based company said.

For the 13-inch MacBook Pro computers, it said an issue may result in data loss and failure of the storage drive. Apple said it would service those affected drives.

Only a limited number of 128GB and 256GB solid-state drives in 13-inch MacBook Pro units sold between June 2017 and June 2018 were affected, Apple said.&nbsp;

Last year, Apple began a massive battery replacement programme after it conceded that a software update intended to help some iPhone models deal with aging batteries slowed down the performance of the phones. The battery imbroglio resulted in inquires from U.S. lawmakers.

In June, Apple said it would offer free replacements for the keyboards in some MacBook and MacBook Pro models. The keyboards, which Apple introduced in laptops starting in 2015, had generated complaints on social media for how much noise they made while typing and for malfunctioning unexpectedly. Apple changed the design of the keyboard this year, adding a layer of silicone underneath the keys.

Apple said on Friday it had found some issues affecting some of its iPhone X and 13-inch MacBook pro products and said the company would fix them free of charge.

Apple said on Friday it had found some issues affecting some of its iPhone X and 13-inch MacBook pro products and said the company would fix them free of charge. The repair offers are the latest in a string of product quality problems over the past year even as Apple has raised prices for most of its laptops, tablets and phones to new heights. Its top-end iPhones now sell for as much as $1,449 and its best iPad goes for as much as $1,899. Apple said displays on iPhone X, which came out in 2017 with a starting price of $999, may experience touch issues due to a component failure, adding it would replace those parts for free. The company said it only affects the original iPhone X, which has been superseded by the iPhone XS and XR released this autumn. The screens on affected phones may not respond correctly to touch or it could react even without being touched, the Cupertino, California-based company said. For the 13-inch MacBook Pro computers, it said an issue may result in data loss and failure of the storage drive. Apple said it would service those affected drives. Only a limited number of 128GB and 256GB solid-state drives in 13-inch MacBook Pro units sold between June 2017 and June 2018 were affected, Apple said. Last year, Apple began a massive battery replacement programme after it conceded that a software update intended to help some iPhone models deal with aging batteries slowed down the performance of the phones. The battery imbroglio resulted in inquires from U.S. lawmakers. In June, Apple said it would offer free replacements for the keyboards in some MacBook and MacBook Pro models. The keyboards, which Apple introduced in laptops starting in 2015, had generated complaints on social media for how much noise they made while typing and for malfunctioning unexpectedly. Apple changed the design of the keyboard this year, adding a layer of silicone underneath the keys.

Apple finds quality problems in some iPhone X and MacBook models

Software engineer Samee Alam was ready to take the big leap and buy an iPhone in this week`s Diwali festival sales, but at the last minute he opted for cheaper Chinese competitor OnePlus instead.&nbsp;

Alam, 27, spends hours on his phone watching shows, surfing and shopping, making him the perfect target for Apple Inc as it strives to raise sales among India`s 1.3 billion consumers.

But in a country where the average per capita income is around US $2,000 a year, even the cheapest of this year`s new iPhones, the XR at 76,900 rupees (US $1,058), costs twice as much as many of the alternatives.

Hong Kong-based Counterpoint Research says that iPhone sales are falling as a result. From three million phones in 2017, sales may sink to two million this year, according to their estimate, the first decline in four years.&nbsp;

More than half of those sales will come from cheaper older models, and the lack of progress in India was among problems cited by Chief Executive Officer Tim Cook when he gave a disappointing holiday outlook last week.&nbsp;

Even in the premium segment, smartphones that cost more than US $400, Apple lagged Samsung and China`s OnePlus in the third quarter.

"I have never used an iPhone and I was keen on getting my hands on one but it didn`t make sense," says Alam, who works for one of the raft of firms to have invested in the southern city of Bengaluru, often called India`s Silicon Valley.

"I look for storage, camera and processor in phones and cheaper alternatives like OnePlus are more value for the money. The new iPhones cost almost 100,000 rupees - I can get three good phones for that price or even a decent gaming laptop."

Solid Mac sales and the high unit price of iPhones meant Apple`s total revenue of US $2 billion in India last year was still double that of OnePlus, which only sells mobile phones. But Counterpoint`s data says that gap will also shrink.&nbsp;

OnePlus` India head Vikas Agarwal told Reuters this week that 10-15 percent of new customers in recent months have been defectors from Apple, suggesting even some loyalists are opting out of upgrading their handsets.

HIGH IMPORT DUTIES

Apple`s problems go beyond price.

The company, facing down a handful of regulatory headaches, lost some of its top executives in India at the start of this year.

An Apple spokesman said the departures had nothing to do with the company`s performance, but people familiar with the matter told Reuters that the departures were likely linked to the company changing its distribution system. Apple has cut the number of distributors in the country to two from five.&nbsp;

The sources, who declined to be identified because they have business relationships with Apple, also said company veteran Michel Columb is still working on solidifying business relations since taking control of the Indian operation in December.

Apple declined to comment further.&nbsp;

Prime Minister Narendra Modi`s government has sought to drive electronics producers into manufacturing locally by steadily moving tariffs up the supply chain from simple phone cases to sophisticated chipsets and boards.

Along with local firms like Lava, global smartphone giants including Samsung Electronics Co Ltd, Oppo and Xiaomi Corp have responded aggressively, investing millions of dollars in plants around Bengaluru and Delhi tech hub Noida.&nbsp;

Apple is the only major player which does not manufacture phones in the country and it only assembles two low-cost older models through Wistron Corp in Bengaluru.

Industry experts say as a result the company still imports about 70-80 per cent of its phones. That results in high import duties, which in turn make the phones expensive.

In the United States, the basic iPhone XR model costs US $749 or roughly 54,400 rupees, only two thirds of its retail price in India. Beyond that, while US&nbsp;phones are subsidized under deals with wireless carriers, Apple`s phones in India are not.&nbsp;

"Apple doesn`t have enough confidence ... in the Indian manufacturing system right now, to set up plants and move some of the manufacturing out of China," said analyst Navkendar Singh of tech consulting firm IDC.&nbsp;

"In the process they are losing around 15-20 per cent of their tax incentive ... which they could have passed on to the consumer."

EMPTY STORES

Diwali, the Festival of Lights, is peak selling time for electronics in India, but the Apple-licensed store in one of Bengaluru`s big shopping malls was deserted this past Saturday.

"Features of the emerging phones are very similar to an iPhone," says salesman Aejaz Ahmed, adding volumes have fallen in the past few months. "It is very difficult to make out the difference from a distance because they even look so alike."

Sales staff at several stores in Bengaluru and nearby Chennai pointed to the launch this year of the latest OnePlus phone as a major problem for the U.S. phonemaker.

At 37,999 rupees, the Chinese company`s 6T is half the price of the XR.

The result, says Neil Shah, from Counterpoint, is that Apple`s user base in India is set to decline about 10 per cent to nine million users this year. That compares to an estimated 436 million Android users.&nbsp;

"If your user base is declining, you are losing grip on the market," he says. "The new customer base is not coming."

Software engineer Samee Alam was ready to take the big leap and buy an iPhone in this week`s Diwali festival sales, but at the last minute he opted for cheaper Chinese competitor OnePlus instead.

Software engineer Samee Alam was ready to take the big leap and buy an iPhone in this week`s Diwali festival sales, but at the last minute he opted for cheaper Chinese competitor OnePlus instead. Alam, 27, spends hours on his phone watching shows, surfing and shopping, making him the perfect target for Apple Inc as it strives to raise sales among India`s 1.3 billion consumers. But in a country where the average per capita income is around US $2,000 a year, even the cheapest of this year`s new iPhones, the XR at 76,900 rupees (US $1,058), costs twice as much as many of the alternatives. Hong Kong-based Counterpoint Research says that iPhone sales are falling as a result. From three million phones in 2017, sales may sink to two million this year, according to their estimate, the first decline in four years. More than half of those sales will come from cheaper older models, and the lack of progress in India was among problems cited by Chief Executive Officer Tim Cook when he gave a disappointing holiday outlook last week. Even in the premium segment, smartphones that cost more than US $400, Apple lagged Samsung and China`s OnePlus in the third quarter. "I have never used an iPhone and I was keen on getting my hands on one but it didn`t make sense," says Alam, who works for one of the raft of firms to have invested in the southern city of Bengaluru, often called India`s Silicon Valley. "I look for storage, camera and processor in phones and cheaper alternatives like OnePlus are more value for the money. The new iPhones cost almost 100,000 rupees - I can get three good phones for that price or even a decent gaming laptop." Solid Mac sales and the high unit price of iPhones meant Apple`s total revenue of US $2 billion in India last year was still double that of OnePlus, which only sells mobile phones. But Counterpoint`s data says that gap will also shrink. OnePlus` India head Vikas Agarwal told Reuters this week that 10-15 percent of new customers in recent months have been defectors from Apple, suggesting even some loyalists are opting out of upgrading their handsets. HIGH IMPORT DUTIES Apple`s problems go beyond price. The company, facing down a handful of regulatory headaches, lost some of its top executives in India at the start of this year. An Apple spokesman said the departures had nothing to do with the company`s performance, but people familiar with the matter told Reuters that the departures were likely linked to the company changing its distribution system. Apple has cut the number of distributors in the country to two from five. The sources, who declined to be identified because they have business relationships with Apple, also said company veteran Michel Columb is still working on solidifying business relations since taking control of the Indian operation in December. Apple declined to comment further. Prime Minister Narendra Modi`s government has sought to drive electronics producers into manufacturing locally by steadily moving tariffs up the supply chain from simple phone cases to sophisticated chipsets and boards. Along with local firms like Lava, global smartphone giants including Samsung Electronics Co Ltd, Oppo and Xiaomi Corp have responded aggressively, investing millions of dollars in plants around Bengaluru and Delhi tech hub Noida. Apple is the only major player which does not manufacture phones in the country and it only assembles two low-cost older models through Wistron Corp in Bengaluru. Industry experts say as a result the company still imports about 70-80 per cent of its phones. That results in high import duties, which in turn make the phones expensive. In the United States, the basic iPhone XR model costs US $749 or roughly 54,400 rupees, only two thirds of its retail price in India. Beyond that, while US phones are subsidized under deals with wireless carriers, Apple`s phones in India are not. "Apple doesn`t have enough confidence ... in the Indian manufacturing system right now, to set up plants and move some of the manufacturing out of China," said analyst Navkendar Singh of tech consulting firm IDC. "In the process they are losing around 15-20 per cent of their tax incentive ... which they could have passed on to the consumer." EMPTY STORES Diwali, the Festival of Lights, is peak selling time for electronics in India, but the Apple-licensed store in one of Bengaluru`s big shopping malls was deserted this past Saturday. "Features of the emerging phones are very similar to an iPhone," says salesman Aejaz Ahmed, adding volumes have fallen in the past few months. "It is very difficult to make out the difference from a distance because they even look so alike." Sales staff at several stores in Bengaluru and nearby Chennai pointed to the launch this year of the latest OnePlus phone as a major problem for the U.S. phonemaker. At 37,999 rupees, the Chinese company`s 6T is half the price of the XR. The result, says Neil Shah, from Counterpoint, is that Apple`s user base in India is set to decline about 10 per cent to nine million users this year. That compares to an estimated 436 million Android users. "If your user base is declining, you are losing grip on the market," he says. "The new customer base is not coming."

How Apple is losing its grip on India

Apple&nbsp;on Thursday warned that sales for the crucial holiday quarter would likely miss Wall Street expectations, which Chief Executive Tim Cook blamed on weakness in emerging markets and foreign exchange costs.

The disappointing forecast by the world's most valuable technology company helped send shares down as much as 7 per cent, taking roughly $70 billion off Apple's market value and forcing that value below $1 trillion. The forecast could also deepen concerns for technology companies that saw a sell-off after misses by Amazon.com Inc and Google parent Alphabet Inc.

Apple said it expects between $89 billion and $93 billion in revenue for its fiscal first quarter ending in December, with a midpoint of $91 billion coming in below Wall Street expectations of $93 billion, according to IBES data from Refinitiv.

Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets." He later told investors on a conference call that weak markets included Brazil, India, Russia and Turkey. Sales were flat in the fourth quarter in India, Cook said.

"Obviously, we would like to see that be a huge growth," Cook said on the call.

Executives said they also would quit giving the number of iPhones, iPads and Mac computers, leading to a further drop in the share price, since iPhone unit sales were long the key indicator of quarterly success.

Withholding that number will make it impossible to calculate the average selling price of phones, another key measure.

Apple executives said unit sales are becoming less relevant as customers buy bundled products that include subscription services like Apple Music.

Apple said it would start giving cost-of-sales data for its services business, an important metric for subscription businesses. But investors reacted negatively.

"Companies typically stop reporting metrics when the metrics are about to turn. This is not a good look for Apple," said analyst Walter Piecyk from BTIG Research.

For the quarter ended in September, Apple brought in $62.9 billion in revenue and $2.91 per share in profits, beating expectations of $61.5 billion and $2.79, respectively.

Apple sold 46.9 million iPhones in the fiscal fourth quarter, missing analyst expectations of 47.5 million iPhones, according to FactSet. But the average selling price of iPhones was $793, well above analyst estimates of $750.78, according to FactSet.

"Our worry is there must be a limit to Apple’s pricing power," said George Salmon, an analyst at Hargreaves Lansdown. "The group is now charging close to $800 per phone, and while that’s helping revenues climb despite flat sales volumes, one has to wonder how the strategy to shimmy up the price ladder fares in a downturn. If consumers start feeling the pinch, those price tags could put the punters off.”

In an interview with Reuters, Cook said his caution on holiday sales was in part due to Apple's earlier-than-normal launch of its top-end iPhone models, the XS and XS Max.

Cook also said foreign exchange rates would have a $2 billion negative impact on Apple's sales forecast.

Apple was unsure whether it can make enough new iPhones, Apple Watches, iPads and Mac models it released in recent weeks, Cook told Reuters. Apple is widely expanding the use of its facial recognition unlocking system in iPhones and iPads, which uses special lasers that are produced by only a handful of suppliers.

Elazar Advisors analyst Chaim Siegel said that China trade issues could be making it difficult for Apple to get the supplies it needs. "As for emerging markets slowing, that's also contagion from China. Both trade war issues coming to reality," he said.

But Cook stressed that Apple was happy with its performance in China, where revenue grew 16 per cent to $11.4 billion, the fifth quarter in a row the company has had double-digit growth in the region.

Apple's cautious forecast could accelerate investor fears that have in turn erased stock market gains for much of the year. At market close on Thursday, Apple shares had been up more than 25 per cent for the year - supported by purchases by Warren Buffett and a $100 billion share buyback program - while the Nasdaq Composite Index is nearly flat for the year.

Apple said revenue from services, which includes iCloud, the App Store and Apple Music, reached $10 billion, in line with analyst estimates. Apple investors have been increasingly focused on growth in the company's services business as consumer markets become saturated with smartphones.

Apple forecast a tax rate of 16.5 per cent for the December quarter, above analyst expectations of 15.9 per cent, according to IBES data from Refinitiv.

For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion and profits of $11.91 per share, beating analyst estimates of $264 billion and $11.79 per share.

Apple on Thursday warned that sales for the crucial holiday quarter would likely miss Wall Street expectations, which Chief Executive Tim Cook blamed on weakness in emerging markets and foreign exchange costs.

Apple on Thursday warned that sales for the crucial holiday quarter would likely miss Wall Street expectations, which Chief Executive Tim Cook blamed on weakness in emerging markets and foreign exchange costs. The disappointing forecast by the world's most valuable technology company helped send shares down as much as 7 per cent, taking roughly $70 billion off Apple's market value and forcing that value below $1 trillion. The forecast could also deepen concerns for technology companies that saw a sell-off after misses by Amazon.com Inc and Google parent Alphabet Inc. Apple said it expects between $89 billion and $93 billion in revenue for its fiscal first quarter ending in December, with a midpoint of $91 billion coming in below Wall Street expectations of $93 billion, according to IBES data from Refinitiv. Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets." He later told investors on a conference call that weak markets included Brazil, India, Russia and Turkey. Sales were flat in the fourth quarter in India, Cook said. "Obviously, we would like to see that be a huge growth," Cook said on the call. Executives said they also would quit giving the number of iPhones, iPads and Mac computers, leading to a further drop in the share price, since iPhone unit sales were long the key indicator of quarterly success. Withholding that number will make it impossible to calculate the average selling price of phones, another key measure. Apple executives said unit sales are becoming less relevant as customers buy bundled products that include subscription services like Apple Music. Apple said it would start giving cost-of-sales data for its services business, an important metric for subscription businesses. But investors reacted negatively. "Companies typically stop reporting metrics when the metrics are about to turn. This is not a good look for Apple," said analyst Walter Piecyk from BTIG Research. For the quarter ended in September, Apple brought in $62.9 billion in revenue and $2.91 per share in profits, beating expectations of $61.5 billion and $2.79, respectively. Apple sold 46.9 million iPhones in the fiscal fourth quarter, missing analyst expectations of 47.5 million iPhones, according to FactSet. But the average selling price of iPhones was $793, well above analyst estimates of $750.78, according to FactSet. "Our worry is there must be a limit to Apple’s pricing power," said George Salmon, an analyst at Hargreaves Lansdown. "The group is now charging close to $800 per phone, and while that’s helping revenues climb despite flat sales volumes, one has to wonder how the strategy to shimmy up the price ladder fares in a downturn. If consumers start feeling the pinch, those price tags could put the punters off.” In an interview with Reuters, Cook said his caution on holiday sales was in part due to Apple's earlier-than-normal launch of its top-end iPhone models, the XS and XS Max. Cook also said foreign exchange rates would have a $2 billion negative impact on Apple's sales forecast. Apple was unsure whether it can make enough new iPhones, Apple Watches, iPads and Mac models it released in recent weeks, Cook told Reuters. Apple is widely expanding the use of its facial recognition unlocking system in iPhones and iPads, which uses special lasers that are produced by only a handful of suppliers. Elazar Advisors analyst Chaim Siegel said that China trade issues could be making it difficult for Apple to get the supplies it needs. "As for emerging markets slowing, that's also contagion from China. Both trade war issues coming to reality," he said. But Cook stressed that Apple was happy with its performance in China, where revenue grew 16 per cent to $11.4 billion, the fifth quarter in a row the company has had double-digit growth in the region. Apple's cautious forecast could accelerate investor fears that have in turn erased stock market gains for much of the year. At market close on Thursday, Apple shares had been up more than 25 per cent for the year - supported by purchases by Warren Buffett and a $100 billion share buyback program - while the Nasdaq Composite Index is nearly flat for the year. Apple said revenue from services, which includes iCloud, the App Store and Apple Music, reached $10 billion, in line with analyst estimates. Apple investors have been increasingly focused on growth in the company's services business as consumer markets become saturated with smartphones. Apple forecast a tax rate of 16.5 per cent for the December quarter, above analyst expectations of 15.9 per cent, according to IBES data from Refinitiv. For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion and profits of $11.91 per share, beating analyst estimates of $264 billion and $11.79 per share.

Apple warns on holiday sales, sending value below $1 trillion

Apple on Thursday reported that its profit leapt in the recently ended quarter, but shares slid on weaker-than-expected iPhone sales and the forecast going into the year-end holiday.

Apple said net profit climbed 32 per cent to $14.1 billion on revenue that was up 20 per cent to $62.9 billion with help from growing sales of digital content and services to of users and other Apple gadgetry.

However, the market was disappointed by word that Apple fell short of expectations with iPhone sales of 46.9 million iPhones and its forecast was not as robust as anticipated.

Apple shares slipped 4.2 per cent to $212.85 in after-market trades that followed release of the earnings figures.

"We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our two billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history," said Apple chief executive Tim Cook.

The average selling price for iPhones in the freshly updated product line was $793, indicating that Apple was able to deliver more of its priciest handsets.

The results closed out Apple's fiscal fourth quarter ending September 29 and set the stage for the crucial holiday period.

Chief financial officer Luca Maestri said it was the California-based company's best September quarter on record, with revenue growing double digits everywhere it does business around the world.

"We set September quarter revenue records for iPhone and Wearables and all-time quarterly records for Services and Mac,” Maestri said.

Apple forecast that it would bring in between $89 billion and $93 billion in the current quarter.

Apple this week unveiled a new version of its MacBook Air laptop, this time made of recycled aluminum, as well as a new Mac Mini and an iPad Pro, all pricier than their predecessors.

Apple also unveiled a new version of its iPad Pro tablet with a screen that looks nearly edge-to-edge and boasts a faster processor. It includes features from the latest iPhones.&nbsp;

The changes are part of an effort to overhaul a product that has seen sliding sales in recent years. 
&nbsp;

Apple on Thursday reported that its profit leapt in the recently ended quarter, but shares slid on weaker-than-expected iPhone sales and the forecast going into the year-end holiday.

Apple on Thursday reported that its profit leapt in the recently ended quarter, but shares slid on weaker-than-expected iPhone sales and the forecast going into the year-end holiday. Apple said net profit climbed 32 per cent to $14.1 billion on revenue that was up 20 per cent to $62.9 billion with help from growing sales of digital content and services to of users and other Apple gadgetry. However, the market was disappointed by word that Apple fell short of expectations with iPhone sales of 46.9 million iPhones and its forecast was not as robust as anticipated. Apple shares slipped 4.2 per cent to $212.85 in after-market trades that followed release of the earnings figures. "We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our two billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history," said Apple chief executive Tim Cook. The average selling price for iPhones in the freshly updated product line was $793, indicating that Apple was able to deliver more of its priciest handsets. The results closed out Apple's fiscal fourth quarter ending September 29 and set the stage for the crucial holiday period. Chief financial officer Luca Maestri said it was the California-based company's best September quarter on record, with revenue growing double digits everywhere it does business around the world. "We set September quarter revenue records for iPhone and Wearables and all-time quarterly records for Services and Mac,” Maestri said. Apple forecast that it would bring in between $89 billion and $93 billion in the current quarter. Apple this week unveiled a new version of its MacBook Air laptop, this time made of recycled aluminum, as well as a new Mac Mini and an iPad Pro, all pricier than their predecessors. Apple also unveiled a new version of its iPad Pro tablet with a screen that looks nearly edge-to-edge and boasts a faster processor. It includes features from the latest iPhones. The changes are part of an effort to overhaul a product that has seen sliding sales in recent years.

Apple quarterly profit leaps but shares slip on weaker-than-expected iPhone sales

Apple Inc refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years.

The Cupertino, California, company introduced new versions of the iPad Pro, its higher-end tablet that competes with Microsoft Corp's Surface, with thinner bezels and more screen space, along with the face unlock system found on Apple's newer iPhones.

Apple said a new version of the Mac Book Air, originally released in 2011, would feature a higher-resolution display and thinner bezels and start at $1,199, hitting stores on November 7.

The company also said the Mac Mini, small desktop customers provide their own display and accessories for, would feature more processing power and memory capacity and start at $799.

Apple introduced new iPhones and Apple Watches last month, but the older product lines accounted for $45 billion in sales in the most recent fiscal quarter. In comparison, iPhones brought in revenue of $141.3 billion.

"They really wanted to show the world they haven't forgotten about the iPad and the Mac," said Mika Kitagawa, a senior principal research analyst at Gartner.

The Mac lineup has been in need of a boost.

In July when Apple reported its most recent quarter, the company had its worst quarter of Mac sales since 2010, with unit volumes down 13 per cent year over year. And iPad unit sales were up only 1 per cent versus a year earlier, and revenue for both was down 5 per cent from the prior year.

But some of that dip in Mac sales was explained by timing - Apple waited to release new Macs until July, when it had in previous years offered them in June. More broadly, Mac sales growth has outpaced the PC market and the iPad has been the most successful tablet in a market that turned out to be smaller than Apple hoped when it released the device in 2010.

While Apple has held prices down on some items like its entry-level iPads for schools, analyst had widely expected it to hold or raise prices for its new laptops and desktop.

With Mac laptops in particular, consumers increasingly use phones or tablets for quick tasks and only turn to a full-fledged computer when they need extra horsepower. Apple is unlikely to cut corners to drop the price of its entry-level laptops, analysts had said.

"With Apple, 'cheap' is always more expensive than everybody else," said Carolina Milanesi, an analyst at Creative Strategies. Apple is likely to pick a price where "you don't feel like you're breaking the bank, but you don't feel like you're compromising your experience."

Apple Inc refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years.

Apple Inc refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years. The Cupertino, California, company introduced new versions of the iPad Pro, its higher-end tablet that competes with Microsoft Corp's Surface, with thinner bezels and more screen space, along with the face unlock system found on Apple's newer iPhones. Apple said a new version of the Mac Book Air, originally released in 2011, would feature a higher-resolution display and thinner bezels and start at $1,199, hitting stores on November 7. The company also said the Mac Mini, small desktop customers provide their own display and accessories for, would feature more processing power and memory capacity and start at $799. Apple introduced new iPhones and Apple Watches last month, but the older product lines accounted for $45 billion in sales in the most recent fiscal quarter. In comparison, iPhones brought in revenue of $141.3 billion. "They really wanted to show the world they haven't forgotten about the iPad and the Mac," said Mika Kitagawa, a senior principal research analyst at Gartner. The Mac lineup has been in need of a boost. In July when Apple reported its most recent quarter, the company had its worst quarter of Mac sales since 2010, with unit volumes down 13 per cent year over year. And iPad unit sales were up only 1 per cent versus a year earlier, and revenue for both was down 5 per cent from the prior year. But some of that dip in Mac sales was explained by timing - Apple waited to release new Macs until July, when it had in previous years offered them in June. More broadly, Mac sales growth has outpaced the PC market and the iPad has been the most successful tablet in a market that turned out to be smaller than Apple hoped when it released the device in 2010. While Apple has held prices down on some items like its entry-level iPads for schools, analyst had widely expected it to hold or raise prices for its new laptops and desktop. With Mac laptops in particular, consumers increasingly use phones or tablets for quick tasks and only turn to a full-fledged computer when they need extra horsepower. Apple is unlikely to cut corners to drop the price of its entry-level laptops, analysts had said. "With Apple, 'cheap' is always more expensive than everybody else," said Carolina Milanesi, an analyst at Creative Strategies. Apple is likely to pick a price where "you don't feel like you're breaking the bank, but you don't feel like you're compromising your experience."

Apple announces new iPad Pro, MacBook Air; updates Mac Mini

Qualcomm Inc said in a court hearing on Friday that Apple Inc is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone.

Apple and Qualcomm are involved in a series legal actions. Apple has accused Qualcomm of unfair patent licensing practices. Qualcomm, the world's largest mobile phone chip supplier, has in turn accused Apple of patent infringement.

Qualcomm made its comments about the size of Apple's unpaid royalties in a hearing in one of the cases in federal court in San Diego. Apple has disputed the amount of royalties that it owes to Qualcomm.

Apple has argued that Qualcomm is forcing it to pay for the same patents twice, once when Apple uses Qualcomm's chip in iPhones and then again through patent royalties. Qualcomm has argued that its practices are legal and that Apple is seeking to destroy Qualcomm's business model after agreeing to it for years.

Qualcomm Inc said in a court hearing on Friday that Apple Inc is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone.

Qualcomm Inc said in a court hearing on Friday that Apple Inc is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone. Apple and Qualcomm are involved in a series legal actions. Apple has accused Qualcomm of unfair patent licensing practices. Qualcomm, the world's largest mobile phone chip supplier, has in turn accused Apple of patent infringement. Qualcomm made its comments about the size of Apple's unpaid royalties in a hearing in one of the cases in federal court in San Diego. Apple has disputed the amount of royalties that it owes to Qualcomm. Apple has argued that Qualcomm is forcing it to pay for the same patents twice, once when Apple uses Qualcomm's chip in iPhones and then again through patent royalties. Qualcomm has argued that its practices are legal and that Apple is seeking to destroy Qualcomm's business model after agreeing to it for years.

Qualcomm says Apple $7 billion behind in royalty payments

Apple Chief Executive Tim Cook said on Wednesday customer data was being "weaponised with military efficiency" by companies to increase profit.

Cook, speaking at the International Conference of Data Protection and Privacy Commissioners, said Apple supported a federal privacy law in the United States and also touted the iPhone maker's commitment to protect users' data and privacy.

Issues over how data is used and how consumers can protect their personal information are under the spotlight after big breaches of data privacy involving millions of internet and social media users in Europe and the United States.

Apple, which designs many of its products so that it cannot see users' data, has largely avoided the data privacy scandals that have enmeshed its rivals Google and Facebook this year.

"The desire to put profits over privacy is nothing new," Cook told a packed audience of privacy regulators, corporate executives and other participants.

He cited former U.S. Supreme Court Justice Louis Brandeis who in a Harvard Law Review article in 1890 warned that gossip was no longer the resource of the idle and the vicious but had become a trade.

"Today that trade has exploded into a data industrial complex. Our own information, from the everyday to the deeply personal, is being weaponised against us with military efficiency," he said.

"These scraps of data ... each one harmless enough on its own ... are carefully assembled, synthesised, traded, and sold."

He said algorithms, a major tool for competitors, were turning harmless preferences into hardened convictions.

"If green is your favourite colour, you may find yourself reading a lot of articles — or watching a lot of videos — about the insidious threat from people who like orange," Cook said.

"We shouldn't sugarcoat the consequences. This is surveillance. And these stockpiles of personal data serve only to enrich the companies that collect them," he said.

Cook also warned about governments abusing users' data and their trust, a concern for many with elections coming up in several countries worldwide.

"Platforms and algorithms that promised to improve our lives can actually magnify our worst human tendencies," Cook said.

"Rogue actors and even governments have taken advantage of user trust to deepen divisions, incite violence, and even undermine our shared sense of what is true and what is false."

Cook said Apple fully backed a federal privacy law in the United States, something Europe has already introduced via its General Data Protection Regulation.

"Users should always know what data is being collected and what it is being collected for," he said. "This is the only way to empower users to decide what collection is legitimate and what isn’t. Anything less is a sham."

Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai will share their views via video messages later in the day.

Apple Chief Executive Tim Cook said on Wednesday customer data was being "weaponised with military efficiency" by companies to increase profit. Cook, speaking at the International Conference of Data Protection and Privacy Commissioners, said Apple supported a federal privacy law in the United States and also touted the iPhone maker's commitment to protect users' data and privacy.

Apple Chief Executive Tim Cook said on Wednesday customer data was being "weaponised with military efficiency" by companies to increase profit. Cook, speaking at the International Conference of Data Protection and Privacy Commissioners, said Apple supported a federal privacy law in the United States and also touted the iPhone maker's commitment to protect users' data and privacy. Issues over how data is used and how consumers can protect their personal information are under the spotlight after big breaches of data privacy involving millions of internet and social media users in Europe and the United States. Apple, which designs many of its products so that it cannot see users' data, has largely avoided the data privacy scandals that have enmeshed its rivals Google and Facebook this year. "The desire to put profits over privacy is nothing new," Cook told a packed audience of privacy regulators, corporate executives and other participants. He cited former U.S. Supreme Court Justice Louis Brandeis who in a Harvard Law Review article in 1890 warned that gossip was no longer the resource of the idle and the vicious but had become a trade. "Today that trade has exploded into a data industrial complex. Our own information, from the everyday to the deeply personal, is being weaponised against us with military efficiency," he said. "These scraps of data ... each one harmless enough on its own ... are carefully assembled, synthesised, traded, and sold." He said algorithms, a major tool for competitors, were turning harmless preferences into hardened convictions. "If green is your favourite colour, you may find yourself reading a lot of articles — or watching a lot of videos — about the insidious threat from people who like orange," Cook said. "We shouldn't sugarcoat the consequences. This is surveillance. And these stockpiles of personal data serve only to enrich the companies that collect them," he said. Cook also warned about governments abusing users' data and their trust, a concern for many with elections coming up in several countries worldwide. "Platforms and algorithms that promised to improve our lives can actually magnify our worst human tendencies," Cook said. "Rogue actors and even governments have taken advantage of user trust to deepen divisions, incite violence, and even undermine our shared sense of what is true and what is false." Cook said Apple fully backed a federal privacy law in the United States, something Europe has already introduced via its General Data Protection Regulation. "Users should always know what data is being collected and what it is being collected for," he said. "This is the only way to empower users to decide what collection is legitimate and what isn’t. Anything less is a sham." Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai will share their views via video messages later in the day.

Companies weaponising customer data to increase profit: Apple CEO Tim Cook

Italy's competition authority on Wednesday said it was fining Apple and Samsung 10 and five million euros ($11.5 and $5.7 million) respectively for the "planned obsolescence" of their smartphones.

The ruling is believed to be the first against the manufacturers following accusations worldwide that they encourage operating system updates for older phones <a href="http://www.wionews.com/world/apple-faces-lawsuits-after-admitting-it-slows-down-old-iphones-27817?amp">which slow them down</a>, thereby encouraging the purchase of new phones.

An investigation by the anti-trust authority revealed that "Apple and Samsung implemented dishonest commercial practices", a statement said.

Operating system updates "caused serious malfunctions and significantly reduced performance, thus accelerating phones' substitution."

Samsung told owners of its Note 4 phone to install a new version of Google's Android operating system intended for the more recent Note 7 but which rendered the old model sluggish.

Likewise, Apple told iPhone 6 owners to install an operating system designed for the iPhone 7, leading to problems for owners of the older model.

Apple was also found to have failed to tell customers about "essential" characteristics of its phones' lithium batteries, including their average life and how to prolong that life, resulting in a bigger fine than for Samsung.

The Italian anti-trust authority opened its investigation in January following customer complaints.

Italy's competition authority on Wednesday said it was fining Apple and Samsung 10 and five million euros ($11.5 and $5.7 million) respectively for the "planned obsolescence" of their smartphones.

Italy's competition authority on Wednesday said it was fining Apple and Samsung 10 and five million euros ($11.5 and $5.7 million) respectively for the "planned obsolescence" of their smartphones. The ruling is believed to be the first against the manufacturers following accusations worldwide that they encourage operating system updates for older phones which slow them down, thereby encouraging the purchase of new phones. An investigation by the anti-trust authority revealed that "Apple and Samsung implemented dishonest commercial practices", a statement said. Operating system updates "caused serious malfunctions and significantly reduced performance, thus accelerating phones' substitution." Samsung told owners of its Note 4 phone to install a new version of Google's Android operating system intended for the more recent Note 7 but which rendered the old model sluggish. Likewise, Apple told iPhone 6 owners to install an operating system designed for the iPhone 7, leading to problems for owners of the older model. Apple was also found to have failed to tell customers about "essential" characteristics of its phones' lithium batteries, including their average life and how to prolong that life, resulting in a bigger fine than for Samsung. The Italian anti-trust authority opened its investigation in January following customer complaints.

Apple, Samsung fined millions for slowing phones

<a href="http://www.wionews.com/world/saudi-arabia-admits-khashoggi-died-in-consulate-donald-trump-says-saudi-explanation-credible-172411">Saudi Arabia admits Khashoggi died in </a><a href="http://www.wionews.com/world/saudi-arabia-admits-khashoggi-died-in-consulate-donald-trump-says-saudi-explanation-credible-172411">consulate</a><a href="http://www.wionews.com/world/saudi-arabia-admits-khashoggi-died-in-consulate-donald-trump-says-saudi-explanation-credible-172411">, Donald Trump says Saudi explanation credible</a>

Saudi Arabia said on Friday that journalist Jamal Khashoggi died in a fight inside its Istanbul consulate and said it had fired two senior officials over the incident, giving an account that U.S. President Donald Trump said was credible.

<a href="http://www.wionews.com/india-news/three-fourths-of-h1b-visa-holders-in-2018-are-indians-us-report-172413">Three-fourths of H-1B visa holders in 2018 are Indians: US report</a>

Nearly three out of every four H-1B visa holders as of October 5 are Indian citizens, an official US report has said. 
According to the US Citizenship and Immigration Services (USCIS), there were as many as 419,637 foreign nationals working in the US on H-1B visas as on October 5.

<a href="http://www.wionews.com/india-news/over-60-dead-in-amritsar-train-accident-centre-to-give-rs-2-lakh-to-kin-of-deceased-rs-50000-to-injured-172416">Over 60 dead, at least 72 injured in Amritsar train accident, Punjab declares mourning on Saturday</a>

Over 60 people have been dead and at least 70 were left injured on Friday when a speeding train mowed them down while they were celebrating Dussehra.

<a href="http://www.wionews.com/india-news/sabarimala-is-south-indias-ayodhya-vhp-172417">Sabarimala is South India's Ayodhya: VHP</a>

Responding to the comparison drawn by Communist Party of India (Marxist) (CPI-M) general secretary Sitaram Yechury between the violence in Sabarimala and the uproar witnessed during the demolition of the Babri Masjid in Ayodhya, Vishwa Hindu Parishad (VHP) spokesperson Vinod Bansal said the Sabarimala Temple was southern India`s Ayodhya.

<a href="http://www.wionews.com/south-asia/afghanistan-braces-for-militant-attacks-as-polling-centres-open-172420">Afghanistan braces for militant attacks as polling </a><a href="http://www.wionews.com/south-asia/afghanistan-braces-for-militant-attacks-as-polling-centres-open-172420">centres</a><a href="http://www.wionews.com/south-asia/afghanistan-braces-for-militant-attacks-as-polling-centres-open-172420"> open</a>

Afghans are bracing for more deadly violence on Saturday as voting gets under way in the long-delayed legislative election that the Taliban has vowed to attack.

Saudi Arabia admits Khashoggi died in consulate, Donald Trump says Saudi explanation credible Saudi Arabia said on Friday that journalist Jamal Khashoggi died in a fight inside its Istanbul consulate and said it had fired two senior officials over the incident, giving an account that U.

Saudi Arabia admits Khashoggi died in consulate, Donald Trump says Saudi explanation credible Saudi Arabia said on Friday that journalist Jamal Khashoggi died in a fight inside its Istanbul consulate and said it had fired two senior officials over the incident, giving an account that U.S. President Donald Trump said was credible. Three-fourths of H-1B visa holders in 2018 are Indians: US report Nearly three out of every four H-1B visa holders as of October 5 are Indian citizens, an official US report has said. According to the US Citizenship and Immigration Services (USCIS), there were as many as 419,637 foreign nationals working in the US on H-1B visas as on October 5. Over 60 dead, at least 72 injured in Amritsar train accident, Punjab declares mourning on Saturday Over 60 people have been dead and at least 70 were left injured on Friday when a speeding train mowed them down while they were celebrating Dussehra. Sabarimala is South India's Ayodhya: VHP Responding to the comparison drawn by Communist Party of India (Marxist) (CPI-M) general secretary Sitaram Yechury between the violence in Sabarimala and the uproar witnessed during the demolition of the Babri Masjid in Ayodhya, Vishwa Hindu Parishad (VHP) spokesperson Vinod Bansal said the Sabarimala Temple was southern India`s Ayodhya. Afghanistan braces for militant attacks as polling centres open Afghans are bracing for more deadly violence on Saturday as voting gets under way in the long-delayed legislative election that the Taliban has vowed to attack.

News brief: Big stories of the day

Apple&nbsp;Inc Chief Executive Tim Cook on Friday told an online news website that Bloomberg should retract a story that claimed&nbsp;Apple's internal computer systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents.

Bloomberg said it stood by its report, published earlier this month.

“There is no truth in their story about&nbsp;Apple,” Cook told BuzzFeed News in an interview with the online publication. "They need to do that right thing and retract it."

Apple&nbsp;confirmed the accuracy of the BuzzFeed News report to Reuters but declined to comment further.

Cook's comments follow a denial by&nbsp;Apple&nbsp;that Bloomberg included in its story, a statement posted on&nbsp;Apple's own website, and a letter to US&nbsp;lawmakers.

Apple&nbsp;declined to say whether it planned to take legal action against Bloomberg.

In response to questions from Reuters about Cook's request for a retraction in the BuzzFeed News story on Friday, Bloomberg reiterated that it was confident of its reporting, conducted over more than a year. The news agency said that 17 sources confirmed "the manipulation of hardware and other elements of the attacks."

Bloomberg had reported that a unit of the Chinese People’s Liberation Army infiltrated the supply chain of computer hardware maker Super Micro Computer Inc&nbsp;to plant malicious chips that could be used to steal corporate and government secrets.

Bloomberg said in its report that some 30 companies and multiple US&nbsp;government agencies were targeted by the chips, which would give Beijing secret access to internal networks.

Super Micro also has denied the report.

Apple Inc Chief Executive Tim Cook on Friday told an online news website that Bloomberg should retract a story that claimed Apple's internal computer systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents.

Apple Inc Chief Executive Tim Cook on Friday told an online news website that Bloomberg should retract a story that claimed Apple's internal computer systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents. Bloomberg said it stood by its report, published earlier this month. “There is no truth in their story about Apple,” Cook told BuzzFeed News in an interview with the online publication. "They need to do that right thing and retract it." Apple confirmed the accuracy of the BuzzFeed News report to Reuters but declined to comment further. Cook's comments follow a denial by Apple that Bloomberg included in its story, a statement posted on Apple's own website, and a letter to US lawmakers. Apple declined to say whether it planned to take legal action against Bloomberg. In response to questions from Reuters about Cook's request for a retraction in the BuzzFeed News story on Friday, Bloomberg reiterated that it was confident of its reporting, conducted over more than a year. The news agency said that 17 sources confirmed "the manipulation of hardware and other elements of the attacks." Bloomberg had reported that a unit of the Chinese People’s Liberation Army infiltrated the supply chain of computer hardware maker Super Micro Computer Inc to plant malicious chips that could be used to steal corporate and government secrets. Bloomberg said in its report that some 30 companies and multiple US government agencies were targeted by the chips, which would give Beijing secret access to internal networks. Super Micro also has denied the report.

Apple CEO urges Bloomberg to retract spy chip story

The Indian state of Jammu and Kashmir is witnessing a boom in the apple harvest this season. The high-yielding variety of apple plants which have been imported from Europe is helping in the greater outcome of apple production. Every morning with the break of dawn, families gather in their orchards to pick the apples and send them to different parts of India.

The trees are laden heavily with the apples this season in the apple-rich districts of Kashmir valley. The owners of these orchards have a smile on their faces as the crop is above their expectation. The horticulture department has already declared a bumper crop this year leading to joy among the farmers.&nbsp;

Asadullah Bhat's family has been associated with apple farming since generations. Every day he along with his son pack hundreds of boxes from his orchards. Several years back, his son decided to plant the high-yielding variety of apples in his farm which is imported from Europe.&nbsp;

The M-9 and M-6 variety of apple are boosting the rural economy of the state which is, directly and indirectly, helping in the job creation.&nbsp;

"We send these apples to Delhi, Uttar Pradesh, Haryana and other parts of India. We are currently getting a good price for the harvest. On an average, we pack around 2000 boxes," says Asadullah's son Muneeb.

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His father adds that his entire family is dependent on the crop each year. "Our generations have been associated with this business. Earlier, we used some of our land for paddy, but we decided to plant apple trees which are more profitable."

Their apples don't just reach the Indian markets but are also imported to countries like Bangladesh, Nepal and Sri Lanka. &nbsp;

This year alone, authorities are looking to surpass the previous year record of 17.9 tonnes after apple trees were brought from Italy and other parts of Europe.&nbsp;

Kashmir valley currently accounts for 71 per cent of national apple production and with time it is expected to grow. The imported breed fetches 25 tonnes while the traditional orchards only produce 12 tonnes. Authorities are also aiming to increase state's horticulture revenue from the current 8000 crore rupees to 50,000 crores a year.

"The Italian variety of apple tree is high-yielding and we don't have to work hard on them. The apples produced by the imported trees are high quality and get good prices in the market," says Nazir Ahmad, a farmer from Shopian district of south Kashmir.&nbsp;

In the afternoon, woman bring laden food on their heads which are later enjoyed by the family. The farmers in the south Kashmir's Shopian district cultivate a variety of apples including the famous delicious and golden. Nearly seven lakh families are dependent directly and indirectly on the apple cultivation in the valley.&nbsp;

Another farmer, Shahnawaz Ahmad says that "it takes 6 to 7 months to get ready. Our delicious and Kuloo delicious are good apples. One tree gives 100 to 150 boxes with time."

With the rise in the production, there are concerns too. The state has fewer storage rooms which could accommodate these apples.&nbsp;

Chief horticulture officer, R.K Kotwal believes that state has the capability to surpass the production of China which is at the highest in the world. He says that with the help of imported breed, the apple production of India will rise at the international level.

"We are importing apple trees from Europe. We are accommodating them more per hectare which is around 300 per hectare. European trees will enhance the outcome and give better quality apples," says Kotwal adding that there is a need to make good storage capacity in the valley.

The Indian state of Jammu and Kashmir is witnessing a boom in the apple harvest this season. The high-yielding variety of apple plants which have been imported from Europe is helping in the greater outcome of apple production.

The Indian state of Jammu and Kashmir is witnessing a boom in the apple harvest this season. The high-yielding variety of apple plants which have been imported from Europe is helping in the greater outcome of apple production. Every morning with the break of dawn, families gather in their orchards to pick the apples and send them to different parts of India. The trees are laden heavily with the apples this season in the apple-rich districts of Kashmir valley. The owners of these orchards have a smile on their faces as the crop is above their expectation. The horticulture department has already declared a bumper crop this year leading to joy among the farmers. Asadullah Bhat's family has been associated with apple farming since generations. Every day he along with his son pack hundreds of boxes from his orchards. Several years back, his son decided to plant the high-yielding variety of apples in his farm which is imported from Europe. The M-9 and M-6 variety of apple are boosting the rural economy of the state which is, directly and indirectly, helping in the job creation. "We send these apples to Delhi, Uttar Pradesh, Haryana and other parts of India. We are currently getting a good price for the harvest. On an average, we pack around 2000 boxes," says Asadullah's son Muneeb. His father adds that his entire family is dependent on the crop each year. "Our generations have been associated with this business. Earlier, we used some of our land for paddy, but we decided to plant apple trees which are more profitable." Their apples don't just reach the Indian markets but are also imported to countries like Bangladesh, Nepal and Sri Lanka. This year alone, authorities are looking to surpass the previous year record of 17.9 tonnes after apple trees were brought from Italy and other parts of Europe. Kashmir valley currently accounts for 71 per cent of national apple production and with time it is expected to grow. The imported breed fetches 25 tonnes while the traditional orchards only produce 12 tonnes. Authorities are also aiming to increase state's horticulture revenue from the current 8000 crore rupees to 50,000 crores a year. "The Italian variety of apple tree is high-yielding and we don't have to work hard on them. The apples produced by the imported trees are high quality and get good prices in the market," says Nazir Ahmad, a farmer from Shopian district of south Kashmir. In the afternoon, woman bring laden food on their heads which are later enjoyed by the family. The farmers in the south Kashmir's Shopian district cultivate a variety of apples including the famous delicious and golden. Nearly seven lakh families are dependent directly and indirectly on the apple cultivation in the valley. Another farmer, Shahnawaz Ahmad says that "it takes 6 to 7 months to get ready. Our delicious and Kuloo delicious are good apples. One tree gives 100 to 150 boxes with time." With the rise in the production, there are concerns too. The state has fewer storage rooms which could accommodate these apples. Chief horticulture officer, R.K Kotwal believes that state has the capability to surpass the production of China which is at the highest in the world. He says that with the help of imported breed, the apple production of India will rise at the international level. "We are importing apple trees from Europe. We are accommodating them more per hectare which is around 300 per hectare. European trees will enhance the outcome and give better quality apples," says Kotwal adding that there is a need to make good storage capacity in the valley.

Kashmir sees bumper apple crop after European trees replace traditional variety

Dozens of Chinese iPhone users have recently complained that their money was stolen through online payment services after their Apple accounts were allegedly hacked by cyber attackers.

Two major pay pals in China, WeChat payment and AliPay, have been involved in various cases.

AliPay said in its Weibo blog that it contacted Apple and is working to get to the bottom of the breach. It also advised users who have linked their Apple identities to any payment services to lower transaction limits to prevent further losses.

Similar reports have been circulating on Chinese social media platforms with hundreds of people claiming to be the victims of the Apple ID breach. Some even claimed to have lost as much as 10,000 yuan.

Ms Hu living in Hangzhou City of east China's Zhejiang Province is one of the victims. Hu found that her phone keep popping out payment messages on Wednesday, in which they said that her account had paid 6,707 yuan for online games.

"I checked roughly and learned that those unauthorized payments ranged from 3 to 5 yuan, to 500, 600 and 1,000 yuan each. I then checked my Merchants Bank account and found that the records of all unauthorized transactions were consistent with those messages. It means that I made the payments in the Apple app store without my authorization and most of them were made for recharge cards of games," said Hu.

Ms Xi from Tiantai County of Taizhou City in east China's Zhejiang Province shared the same story with Hu. Xi saw her AliPay account make an unauthorized payment totalling 3,836 yuan on Tuesday afternoon alone.

"I paid about 4,000 yuan for recharge cards of the game Honor of Kings in the Apple app store. The first payment is 50 yuan and the three subsequent transactions are each worth 1,000 yuan. And there are also several payments of 118 yuan each. About 4,000 yuan was paid within just three minutes for accumulation of points from 44 to 47 on the game that I have never played," said Xi.

Xi then connected the AliPay service from which she was told that the company has to verify the case with Apple as Xi previously signed an online contract according to which some payments will be automatically made without inputting payment code.

According to Mr Xu who lives in northeast China's Jilin Province, he called the Apple service center three times after his account made unauthorized transactions totalling 2,592 yuan on Monday.

Xu was told that the company won't refund the money under the company's rules and regulations.

Apple told the press that they are still investigating the cases and no further comments have been made by it as of Friday.

Dozens of Chinese iPhone users have recently complained that their money was stolen through online payment services after their Apple accounts were allegedly hacked by cyber attackers.

Dozens of Chinese iPhone users have recently complained that their money was stolen through online payment services after their Apple accounts were allegedly hacked by cyber attackers. Two major pay pals in China, WeChat payment and AliPay, have been involved in various cases. AliPay said in its Weibo blog that it contacted Apple and is working to get to the bottom of the breach. It also advised users who have linked their Apple identities to any payment services to lower transaction limits to prevent further losses. Similar reports have been circulating on Chinese social media platforms with hundreds of people claiming to be the victims of the Apple ID breach. Some even claimed to have lost as much as 10,000 yuan. Ms Hu living in Hangzhou City of east China's Zhejiang Province is one of the victims. Hu found that her phone keep popping out payment messages on Wednesday, in which they said that her account had paid 6,707 yuan for online games. "I checked roughly and learned that those unauthorized payments ranged from 3 to 5 yuan, to 500, 600 and 1,000 yuan each. I then checked my Merchants Bank account and found that the records of all unauthorized transactions were consistent with those messages. It means that I made the payments in the Apple app store without my authorization and most of them were made for recharge cards of games," said Hu. Ms Xi from Tiantai County of Taizhou City in east China's Zhejiang Province shared the same story with Hu. Xi saw her AliPay account make an unauthorized payment totalling 3,836 yuan on Tuesday afternoon alone. "I paid about 4,000 yuan for recharge cards of the game Honor of Kings in the Apple app store. The first payment is 50 yuan and the three subsequent transactions are each worth 1,000 yuan. And there are also several payments of 118 yuan each. About 4,000 yuan was paid within just three minutes for accumulation of points from 44 to 47 on the game that I have never played," said Xi. Xi then connected the AliPay service from which she was told that the company has to verify the case with Apple as Xi previously signed an online contract according to which some payments will be automatically made without inputting payment code. According to Mr Xu who lives in northeast China's Jilin Province, he called the Apple service center three times after his account made unauthorized transactions totalling 2,592 yuan on Monday. Xu was told that the company won't refund the money under the company's rules and regulations. Apple told the press that they are still investigating the cases and no further comments have been made by it as of Friday.

IPhone users see money taken as Apple IDs believed to have been hacked

Apple Inc's top security officer told Congress on Sunday that it had found no sign of suspicious transmissions or other evidence that it had been penetrated in a sophisticated attack on its supply chain.

Apple Vice President for Information Security George Stathakopoulos wrote in a letter to the Senate and House commerce committees that the company had repeatedly investigated and found no evidence for the main points in a Bloomberg Businessweek article published on Thursday, including that chips inside servers sold to Apple by Super Micro Computer Inc allowed for backdoor transmissions to China.

"Apple’s proprietary security tools are continuously scanning for precisely this kind of outbound traffic, as it indicates the existence of malware or other malicious activity. Nothing was ever found," he wrote in the letter provided to Reuters.

Stathakopoulos repeated Apple's statements to the press that it never found malicious chips or vulnerabilities purposely planted in any server or been contacted by the Federal Bureau of Investigation (FBI) about such concerns. He said he would be available to brief Congressional staff on the issue this week.

The letter follows statements on Friday by Britain's National Cyber Security Centre and on Saturday by the US&nbsp;Department of Homeland Security that those agencies have no reason to doubt denials from Apple and Amazon.com Inc that they had discovered backdoored chips.

Bloomberg said on Friday it stood by its story, which was based on 17 anonymous sources. Some allegations were based on fewer accounts or even a single unnamed source, Apple noted in its letter.

A Bloomberg spokeswoman did not immediately respond to questions sent on Sunday.

Apple Inc's top security officer told Congress on Sunday that it had found no sign of suspicious transmissions or other evidence that it had been penetrated in a sophisticated attack on its supply chain.

Apple Inc's top security officer told Congress on Sunday that it had found no sign of suspicious transmissions or other evidence that it had been penetrated in a sophisticated attack on its supply chain. Apple Vice President for Information Security George Stathakopoulos wrote in a letter to the Senate and House commerce committees that the company had repeatedly investigated and found no evidence for the main points in a Bloomberg Businessweek article published on Thursday, including that chips inside servers sold to Apple by Super Micro Computer Inc allowed for backdoor transmissions to China. "Apple’s proprietary security tools are continuously scanning for precisely this kind of outbound traffic, as it indicates the existence of malware or other malicious activity. Nothing was ever found," he wrote in the letter provided to Reuters. Stathakopoulos repeated Apple's statements to the press that it never found malicious chips or vulnerabilities purposely planted in any server or been contacted by the Federal Bureau of Investigation (FBI) about such concerns. He said he would be available to brief Congressional staff on the issue this week. The letter follows statements on Friday by Britain's National Cyber Security Centre and on Saturday by the US Department of Homeland Security that those agencies have no reason to doubt denials from Apple and Amazon.com Inc that they had discovered backdoored chips. Bloomberg said on Friday it stood by its story, which was based on 17 anonymous sources. Some allegations were based on fewer accounts or even a single unnamed source, Apple noted in its letter. A Bloomberg spokeswoman did not immediately respond to questions sent on Sunday.

Apple tells Congress it found no signs of hacking attack

Apple Inc and Amazon.com Inc denied a Bloomberg Businessweek report on Thursday that said their systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents.

Bloomberg cited 17 unidentified sources from intelligence agencies and business to support claims that Chinese spies had placed computer chips inside equipment used by about 30 companies and multiple US government agencies, which would give Beijing secret access to internal networks.

China's Ministry of Foreign Affairs did not respond to a written request for comment. Beijing has previously denied allegations of orchestrating cyber attacks against Western companies.

Security experts who have worked for government agencies and large corporations told Reuters that they were surprised by the stark discrepancy between the claims in the Bloomberg article and the strongly worded denials from Apple and Amazon.com Inc's Amazon Web Services. Some said that certain allegations were plausible, but that the strong denials from companies cited in the piece left them with doubts about whether the attacks had happened.

"There is no truth" to claims in the story that Apple found malicious chips in its servers in 2015, the said in a statement. "This is untrue," Amazon said in a blog post.

Bloomberg defended its reporting.

"Seventeen individual sources, including government officials and insiders at the companies, confirmed the manipulation of hardware and other elements of the attacks," Bloomberg said in a statement. "We stand by our story and are confident in our reporting and sources."

The report said that a unit of the Chinese People's Liberation Army infiltrated the supply chain of computer hardware maker Super Micro Computer Inc to plant malicious chips that could be used to steal corporate and government secrets.

Super Micro Computer shares fell 38 per cent to $13.26 in Pink Sheet trading.

San Jose, California-based Super Micro strongly denied that it sold servers to customers contained malicious microchips in the motherboards of those systems. It said it has never found any malicious chips, had not been informed that such chips were found by any customer, and never been contacted by government agencies on the matter.

Bloomberg reported that Amazon uncovered the malicious chips in 2015 when examining servers manufactured by a company known as Elemental Technologies which Amazon eventually acquired.

The investigation found that Elemental servers, which were assembled by Super Micro, were tainted with tiny microchips that were not part of their design, Bloomberg said. Amazon reported the matter to US authorities, who determined that the chips allowed attackers to create "a stealth doorway" into networks using those servers, the story said.

AWS told Bloomberg it had reviewed its records related to the Elemental acquisition and "found no evidence to support claims of malicious chips or hardware modifications."

Bloomberg also reported that Apple in 2015 found malicious chips in servers it purchased from the hardware maker, citing three unidentified company insiders.

Apple denied the account, saying it had investigated Bloomberg's claims.

Representatives with the Federal Bureau of Investigation and the US Department of Homeland Security did not respond to requests for comment. A US National Security Agency spokeswoman said she had no immediate comment.

While the companies disputed the facts in the story, security experts noted that there is growing concern that hackers could launch cyber attacks by inserting malicious chips into hardware sold to government agencies and businesses.

"Extended, complex, global supply chains create a risk for malicious cyber activity that companies must take into account," said Michael Daniel, chief executive of the non-profit Cyber Threat Alliance.

Apple Inc and Amazon.com Inc denied a Bloomberg Businessweek report on Thursday that said their systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents.

Apple Inc and Amazon.com Inc denied a Bloomberg Businessweek report on Thursday that said their systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents. Bloomberg cited 17 unidentified sources from intelligence agencies and business to support claims that Chinese spies had placed computer chips inside equipment used by about 30 companies and multiple US government agencies, which would give Beijing secret access to internal networks. China's Ministry of Foreign Affairs did not respond to a written request for comment. Beijing has previously denied allegations of orchestrating cyber attacks against Western companies. Security experts who have worked for government agencies and large corporations told Reuters that they were surprised by the stark discrepancy between the claims in the Bloomberg article and the strongly worded denials from Apple and Amazon.com Inc's Amazon Web Services. Some said that certain allegations were plausible, but that the strong denials from companies cited in the piece left them with doubts about whether the attacks had happened. "There is no truth" to claims in the story that Apple found malicious chips in its servers in 2015, the said in a statement. "This is untrue," Amazon said in a blog post. Bloomberg defended its reporting. "Seventeen individual sources, including government officials and insiders at the companies, confirmed the manipulation of hardware and other elements of the attacks," Bloomberg said in a statement. "We stand by our story and are confident in our reporting and sources." The report said that a unit of the Chinese People's Liberation Army infiltrated the supply chain of computer hardware maker Super Micro Computer Inc to plant malicious chips that could be used to steal corporate and government secrets. Super Micro Computer shares fell 38 per cent to $13.26 in Pink Sheet trading. San Jose, California-based Super Micro strongly denied that it sold servers to customers contained malicious microchips in the motherboards of those systems. It said it has never found any malicious chips, had not been informed that such chips were found by any customer, and never been contacted by government agencies on the matter. Bloomberg reported that Amazon uncovered the malicious chips in 2015 when examining servers manufactured by a company known as Elemental Technologies which Amazon eventually acquired. The investigation found that Elemental servers, which were assembled by Super Micro, were tainted with tiny microchips that were not part of their design, Bloomberg said. Amazon reported the matter to US authorities, who determined that the chips allowed attackers to create "a stealth doorway" into networks using those servers, the story said. AWS told Bloomberg it had reviewed its records related to the Elemental acquisition and "found no evidence to support claims of malicious chips or hardware modifications." Bloomberg also reported that Apple in 2015 found malicious chips in servers it purchased from the hardware maker, citing three unidentified company insiders. Apple denied the account, saying it had investigated Bloomberg's claims. Representatives with the Federal Bureau of Investigation and the US Department of Homeland Security did not respond to requests for comment. A US National Security Agency spokeswoman said she had no immediate comment. While the companies disputed the facts in the story, security experts noted that there is growing concern that hackers could launch cyber attacks by inserting malicious chips into hardware sold to government agencies and businesses. "Extended, complex, global supply chains create a risk for malicious cyber activity that companies must take into account," said Michael Daniel, chief executive of the non-profit Cyber Threat Alliance.

Report says China secretly put chip in Amazon, Apple servers; 'not true' say companies

Apple&nbsp;and Amazon denied a Bloomberg report on Thursday that their systems contained malicious computer chips inserted by Chinese intelligence, statements from the tech companies released separately by Bloomberg showed.

Bloomberg Businessweek cited 17 unnamed intelligence and company sources as saying that Chinese spies had placed computer chips inside equipment used by around 30 companies, as well as multiple US government agencies, which would give Beijing secret access to internal networks.

Apple and Amazon denied a Bloomberg report on Thursday that their systems contained malicious computer chips inserted by Chinese intelligence, statements from the tech companies released separately by Bloomberg showed.

Apple and Amazon denied a Bloomberg report on Thursday that their systems contained malicious computer chips inserted by Chinese intelligence, statements from the tech companies released separately by Bloomberg showed. Bloomberg Businessweek cited 17 unnamed intelligence and company sources as saying that Chinese spies had placed computer chips inside equipment used by around 30 companies, as well as multiple US government agencies, which would give Beijing secret access to internal networks.

Apple, Amazon deny report on Chinese hardware attack

Apple has come out with its latest offering - the iPhone Xs, iPhone X Max and the Apple Watch Series 4 - and the powerful iOS 12. All these gadgets are beautiful, sleek and powerful. They can do many day-to-day things in a jiffy and are still left with a lot of juice.

The same is the scene with smartphone makers who have chosen to go with Android. One such company Samsung has introduced its most powerful gadget, the Note 9, with a stylus and a hardware configuration which can easily give today's desktops and laptops a run for the money. The Gigabytes and Terabytes these gadgets offer, and the processing speed which their CPUs are capable of, are mind-boggling! Forget market leaders, even newcomers like OnePlus and other Chinese smartphone makers are breaking the barriers every day and giving the flagship makers a tough competition.

So much has happened in the last decade that it is becoming impossible to keep up with technological advancements. How much of the hardware is of actual use to an ordinary person, is still debatable. What's amazing is, despite all this power, these 'Bruce Almighties of technology' still primarily make calls!

When you run with technology, trying to understand what's on offer, marvelling at the newly-introduced feature and comprehending the power of computing in the palm of your hand, fatigue is bound to set in.

I had a similar experience when I read about the latest developments in the tech world on my computer. With face between my palms, elevated breathing and a deep sigh, I sank in the chair at home. Peeking through fingers, I saw a box. It suddenly struck me that this is where I've kept most of my old tech stuff. I opened it and found an iPod. The first generation.

Yes, it looks ancient, doesn't even have a display (screen), resembles a pen drive but it has a nostalgic feeling attached to it. This is my first Apple gadget. With only 512 MB onboard storage, it once had songs which are my all-time favourite. I bought it in 2006 but it is still intact. And before you pop THE question: Yes, it is working. I plugged it in my laptop, charged it and transferred some songs through iTunes. It has just one round button - a minimalistic design hallmark of Apple. I pressed the button and voila! The gadget began transmitting the sound waves to my ear through the earphones. It felt like using a Gramophone in today's advanced world but delighted me to the core.

My interest further arose and I began sifting through my cupboard. I stumbled upon the N81, the Symbian OS-based phone launched by Nokia in 2007. It was a gaming device and came pre-loaded with N-Gage 2.0. I remember playing Asphalt 3 on this tiny screen. It was fun back then. And I communicated through calls and SMS-es back then. Yes, SMS-es - the feature that is present in today's phones too but is rarely used. People only get spam SMS-es from banking, real estate and other sectors. Reading those old SMS-es where I used funny abbreviations to keep it within the 160 character limit (to avoid paying for two SMS-es) brought a smile on my face. There were long threads but mostly goofy stuff.

The feelgood factor compelled me to take out the CD player I proudly brought home years ago. Right next to it was a box of CDs which I collected after a lot of struggle and spending money. The music CD of a movie released 20 years ago looked like a Gramophone record today. The player also has the functionality to play cassettes, but unfortunately, I don't have any. It did not have a USB port or Bluetooth to stream music, but it gave comfort.

I took out the CD of Bollywood movie 'Taal' which released in 1999 and played it in the music system. As Alka Yagnik and Udit Narayan crooned 'Dil Ye Bechain Hai', I felt a sense of calmness in my nerves. The beats were exhilarating and Rahman's music brought back old memories - and smile. All this comforted me, the very purpose a technology is introduced, and which I feel is missing in today's time.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

&nbsp;

Apple has come out with its latest offering - the iPhone Xs, iPhone X Max and the Apple Watch Series 4 - and the powerful iOS 12. All these gadgets are beautiful, sleek and powerful.

Apple has come out with its latest offering - the iPhone Xs, iPhone X Max and the Apple Watch Series 4 - and the powerful iOS 12. All these gadgets are beautiful, sleek and powerful. They can do many day-to-day things in a jiffy and are still left with a lot of juice. The same is the scene with smartphone makers who have chosen to go with Android. One such company Samsung has introduced its most powerful gadget, the Note 9, with a stylus and a hardware configuration which can easily give today's desktops and laptops a run for the money. The Gigabytes and Terabytes these gadgets offer, and the processing speed which their CPUs are capable of, are mind-boggling! Forget market leaders, even newcomers like OnePlus and other Chinese smartphone makers are breaking the barriers every day and giving the flagship makers a tough competition. So much has happened in the last decade that it is becoming impossible to keep up with technological advancements. How much of the hardware is of actual use to an ordinary person, is still debatable. What's amazing is, despite all this power, these 'Bruce Almighties of technology' still primarily make calls! When you run with technology, trying to understand what's on offer, marvelling at the newly-introduced feature and comprehending the power of computing in the palm of your hand, fatigue is bound to set in. I had a similar experience when I read about the latest developments in the tech world on my computer. With face between my palms, elevated breathing and a deep sigh, I sank in the chair at home. Peeking through fingers, I saw a box. It suddenly struck me that this is where I've kept most of my old tech stuff. I opened it and found an iPod. The first generation. Yes, it looks ancient, doesn't even have a display (screen), resembles a pen drive but it has a nostalgic feeling attached to it. This is my first Apple gadget. With only 512 MB onboard storage, it once had songs which are my all-time favourite. I bought it in 2006 but it is still intact. And before you pop THE question: Yes, it is working. I plugged it in my laptop, charged it and transferred some songs through iTunes. It has just one round button - a minimalistic design hallmark of Apple. I pressed the button and voila! The gadget began transmitting the sound waves to my ear through the earphones. It felt like using a Gramophone in today's advanced world but delighted me to the core. My interest further arose and I began sifting through my cupboard. I stumbled upon the N81, the Symbian OS-based phone launched by Nokia in 2007. It was a gaming device and came pre-loaded with N-Gage 2.0. I remember playing Asphalt 3 on this tiny screen. It was fun back then. And I communicated through calls and SMS-es back then. Yes, SMS-es - the feature that is present in today's phones too but is rarely used. People only get spam SMS-es from banking, real estate and other sectors. Reading those old SMS-es where I used funny abbreviations to keep it within the 160 character limit (to avoid paying for two SMS-es) brought a smile on my face. There were long threads but mostly goofy stuff. The feelgood factor compelled me to take out the CD player I proudly brought home years ago. Right next to it was a box of CDs which I collected after a lot of struggle and spending money. The music CD of a movie released 20 years ago looked like a Gramophone record today. The player also has the functionality to play cassettes, but unfortunately, I don't have any. It did not have a USB port or Bluetooth to stream music, but it gave comfort. I took out the CD of Bollywood movie 'Taal' which released in 1999 and played it in the music system. As Alka Yagnik and Udit Narayan crooned 'Dil Ye Bechain Hai', I felt a sense of calmness in my nerves. The beats were exhilarating and Rahman's music brought back old memories - and smile. All this comforted me, the very purpose a technology is introduced, and which I feel is missing in today's time. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Blog: Breakneck innovation and comforting nostalgia

The Special Investigation Team (SIT) on Sunday visited the spot&nbsp;where the Apple executive, <a href="http://www.wionews.com/india-news/apple-employee-dead-after-being-allegedly-shot-police-168410">Vivek Tiwari</a>, was fatally shot by a cop in Lucknow on Friday.&nbsp;

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<a href="https://twitter.com/hashtag/VivekTiwari?src=hash&amp;ref_src=twsrc%5Etfw">#VivekTiwari</a> death case: Special Investigation Team (SIT) arrives at the spot of the incident in Lucknow's Gomti Nagar extension. <a href="https://t.co/KqFCEr1xs6">pic.twitter.com/KqFCEr1xs6</a>
— ANI UP (@ANINewsUP) <a href="https://twitter.com/ANINewsUP/status/1046329514341494784?ref_src=twsrc%5Etfw">September 30, 2018</a></blockquote>
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ADG Lucknow Zone Rajiv Krishna and other senior police officials also met Tiwari's family.

Tiwari was allegedly shot by police-constable Prashant Chaudhary at Gomti Nagar area in Lucknow on Friday when he was asked to stop his car.

Tiwari was subsequently taken to Lohia hospital in the city where he succumbed to injuries.

The beleaguered police constable on Saturday said that the gun went off accidentally. He also alleged that&nbsp;Tiwari had hit him with his car three times.

Meanwhile, Samajwadi Party chief Akhilesh Yadav Saturday demanded the resignation of the BJP government in Uttar Pradesh over the death of multi-national company executive.

"What else can we expect from UP's BJP government? Numerous fake encounters are taking place in the state," Yadav told media persons at Shahdol in Madhya Pradesh.

The Special Investigation Team (SIT) on Sunday visited the spot where the Apple executive, Vivek Tiwari, was fatally shot by a cop in Lucknow on Friday. #VivekTiwari death case: Special Investigation Team (SIT) arrives at the spot of the incident in Lucknow's Gomti Nagar extension.

The Special Investigation Team (SIT) on Sunday visited the spot where the Apple executive, Vivek Tiwari, was fatally shot by a cop in Lucknow on Friday. #VivekTiwari death case: Special Investigation Team (SIT) arrives at the spot of the incident in Lucknow's Gomti Nagar extension. pic.twitter.com/KqFCEr1xs6 — ANI UP (@ANINewsUP) September 30, 2018 × ADG Lucknow Zone Rajiv Krishna and other senior police officials also met Tiwari's family. Tiwari was allegedly shot by police-constable Prashant Chaudhary at Gomti Nagar area in Lucknow on Friday when he was asked to stop his car. Tiwari was subsequently taken to Lohia hospital in the city where he succumbed to injuries. The beleaguered police constable on Saturday said that the gun went off accidentally. He also alleged that Tiwari had hit him with his car three times. Meanwhile, Samajwadi Party chief Akhilesh Yadav Saturday demanded the resignation of the BJP government in Uttar Pradesh over the death of multi-national company executive. "What else can we expect from UP's BJP government? Numerous fake encounters are taking place in the state," Yadav told media persons at Shahdol in Madhya Pradesh.

Lucknow Apple executive death: SIT begins probe, visits crime spot

<a href="http://www.wionews.com/india-news/exploring-alternative-oil-supplies-ensure-our-friend-indias-economy-not-adversely">Exploring alternative oil supplies to ensure 'our friend India's economy' not adversely affected: US&nbsp;</a>

With a tougher round of US sanctions on Iran coming into effect from November 4, a top Trump administration official said Washington recognises India's need for significant oil imports and is having conversations to ensure there are alternative supplies of the fuel "so that our friend India's economy is not adversely affected".

<a href="http://www.wionews.com/india-news/apple-employee-dead-after-being-allegedly-shot-police-168410">Gun went off accidentally, says </a><a href="http://www.wionews.com/india-news/apple-employee-dead-after-being-allegedly-shot-police-168410">cop</a><a href="http://www.wionews.com/india-news/apple-employee-dead-after-being-allegedly-shot-police-168410"> who fatally shot Apple employee</a>

The police constable who fatally shot the Apple employee Vivek Tiwari in Lucknow after the latter did not stop the car has said that his gun went off accidentally, reported news agency ANI. &nbsp;

<a href="http://www.wionews.com/india-news/congress-disrespecting-sardar-patel-modi-168441">Congress is spreading lies, disrespecting Sardar Patel, says Modi</a>

Prime Minister Narendra Modi on Saturday accused the Congress of spreading lies over the world`s largest statue of Sardar Patel named "Statue of Unity" being built in Gujarat.

<a href="http://www.wionews.com/south-asia/maldives-election-body-endorses-opposition-leader-solihs-victory-amid-threats-168401">Maldives election body endorses opposition leader Solih's victory amid threats</a>

The Elections Commission of Maldives on Saturday officially declared opposition leader Ibrahim Mohamed Solih winner of the country's national election, defeating president Abdulla Yameen who had sought a delay in publication of the final results.

<a href="http://www.wionews.com/west-asia/swedish-academy-has-postpones-years-nobel-literature-prize-168421">Swedish Academy postpones this year's Nobel Literature Prize</a>

In tatters after a #MeToo scandal, the Swedish Academy has postponed this year's Nobel Literature Prize, leaving an empty page for 2018 as it attempts to reform the venerable institution.

Exploring alternative oil supplies to ensure 'our friend India's economy' not adversely affected: US With a tougher round of US sanctions on Iran coming into effect from November 4, a top Trump administration official said Washington recognises India's need for significant oil imports and is having conversations to ensure there are alternative supplies of the fuel "so that our friend India's economy is not adversely affected".

Exploring alternative oil supplies to ensure 'our friend India's economy' not adversely affected: US With a tougher round of US sanctions on Iran coming into effect from November 4, a top Trump administration official said Washington recognises India's need for significant oil imports and is having conversations to ensure there are alternative supplies of the fuel "so that our friend India's economy is not adversely affected". Gun went off accidentally, says cop who fatally shot Apple employee The police constable who fatally shot the Apple employee Vivek Tiwari in Lucknow after the latter did not stop the car has said that his gun went off accidentally, reported news agency ANI. Congress is spreading lies, disrespecting Sardar Patel, says Modi Prime Minister Narendra Modi on Saturday accused the Congress of spreading lies over the world`s largest statue of Sardar Patel named "Statue of Unity" being built in Gujarat. Maldives election body endorses opposition leader Solih's victory amid threats The Elections Commission of Maldives on Saturday officially declared opposition leader Ibrahim Mohamed Solih winner of the country's national election, defeating president Abdulla Yameen who had sought a delay in publication of the final results. Swedish Academy postpones this year's Nobel Literature Prize In tatters after a #MeToo scandal, the Swedish Academy has postponed this year's Nobel Literature Prize, leaving an empty page for 2018 as it attempts to reform the venerable institution.

The police constable&nbsp;who fatally shot the Apple employee&nbsp;Vivek Tiwari in Lucknow after the latter did not stop the car has said that his gun went off accidentally, reported news agency ANI.&nbsp;&nbsp;

Police-constable Prashant Chaudhary said that Tiwari hit him with his car three times. &nbsp;

"I didn’t shoot at him. The gun went off accidentally. He hit me with his car and drove it over me three times with the intention to kill me. I demand that my FIR must be registered," he said.&nbsp;

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I didn’t shoot at him. The bullet was shot by mistake. He hit me with his car and drove it over me three times with the intention to kill me. I demand that my FIR must be registered: Police constable Prashant Chaudhary who shot at Lucknow resident, Vivek Tiwari. <a href="https://twitter.com/hashtag/Lucknow?src=hash&amp;ref_src=twsrc%5Etfw">#Lucknow</a> <a href="https://t.co/lrACHnBgOi">pic.twitter.com/lrACHnBgOi</a>
— ANI UP (@ANINewsUP) <a href="https://twitter.com/ANINewsUP/status/1045998085854248965?ref_src=twsrc%5Etfw">September 29, 2018</a></blockquote>
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Meanwhile, Uttar Pradesh Minister Ashutosh Tandon said that a new FIR is being registered and the policemen involved in the case have been arrested and expelled from the force.

"Orders were given for rewriting of FIR. Gomti Nagar police won't investigate it, some other police station will probe. DM Lucknow had ordered magisterial inquiry. I have ordered the constitution of SIT. It's a crime. Policemen involved have been arrested and expelled," Tandon said

Tiwari was allegedly shot by Chaudhary&nbsp;at Gomti Nagar area in Lucknow on Friday when he was asked to stop his car.

Tiwari was subsequently taken to Lohia hospital in the city where he succumbed to his injuries.

According to police, shots fired at Tiwari after he allegedly tried to crush police constable's bike. After being hit by the bullet, the victim's car then met with an accident.

"A case under section 302 of the Indian Penal Code (IPC) has been registered against the accused. However, exact reason of his death whether he died of accidental injuries or bullet injury would be confirmed only after post-mortem report," Senior Superintendent of Police (SSP) Kalanidhi Naithani told ANI.

Kalpana Tiwari, wife of deceased Vivek Tiwari , asked Uttar Pradesh Chief Minister Yogi Adityanath to take cognizance of the incident.

"Police had no right to shoot at my husband, demand UP Chief Minister Yogi Adityanath to come here and talk to me," she said.

Uttar Pradesh Deputy Chief Minister Keshav Prasad, meanwhile, told ANI that the investigation into the matter is underway and that actions will be taken against those found guilty.

"Investigation is underway. If an innocent person has been killed by the police probe will be done.Actions will be taken against those found guilty," he said.

The police constable who fatally shot the Apple employee Vivek Tiwari in Lucknow after the latter did not stop the car has said that his gun went off accidentally, reported news agency ANI.

The police constable who fatally shot the Apple employee Vivek Tiwari in Lucknow after the latter did not stop the car has said that his gun went off accidentally, reported news agency ANI. Police-constable Prashant Chaudhary said that Tiwari hit him with his car three times. "I didn’t shoot at him. The gun went off accidentally. He hit me with his car and drove it over me three times with the intention to kill me. I demand that my FIR must be registered," he said. I didn’t shoot at him. The bullet was shot by mistake. He hit me with his car and drove it over me three times with the intention to kill me. I demand that my FIR must be registered: Police constable Prashant Chaudhary who shot at Lucknow resident, Vivek Tiwari. #Lucknow pic.twitter.com/lrACHnBgOi — ANI UP (@ANINewsUP) September 29, 2018 × Meanwhile, Uttar Pradesh Minister Ashutosh Tandon said that a new FIR is being registered and the policemen involved in the case have been arrested and expelled from the force. "Orders were given for rewriting of FIR. Gomti Nagar police won't investigate it, some other police station will probe. DM Lucknow had ordered magisterial inquiry. I have ordered the constitution of SIT. It's a crime. Policemen involved have been arrested and expelled," Tandon said Tiwari was allegedly shot by Chaudhary at Gomti Nagar area in Lucknow on Friday when he was asked to stop his car. Tiwari was subsequently taken to Lohia hospital in the city where he succumbed to his injuries. According to police, shots fired at Tiwari after he allegedly tried to crush police constable's bike. After being hit by the bullet, the victim's car then met with an accident. "A case under section 302 of the Indian Penal Code (IPC) has been registered against the accused. However, exact reason of his death whether he died of accidental injuries or bullet injury would be confirmed only after post-mortem report," Senior Superintendent of Police (SSP) Kalanidhi Naithani told ANI. Kalpana Tiwari, wife of deceased Vivek Tiwari , asked Uttar Pradesh Chief Minister Yogi Adityanath to take cognizance of the incident. "Police had no right to shoot at my husband, demand UP Chief Minister Yogi Adityanath to come here and talk to me," she said. Uttar Pradesh Deputy Chief Minister Keshav Prasad, meanwhile, told ANI that the investigation into the matter is underway and that actions will be taken against those found guilty. "Investigation is underway. If an innocent person has been killed by the police probe will be done.Actions will be taken against those found guilty," he said.

Gun went off accidentally, says cop who fatally shot Apple employee

A former manager at Taiwan's technology giant Foxconn has been jailed for stealing and selling 2,000 iPhones to pocket around Tw$8.46 million ($277,000), a court said Friday.

Foxconn, also known as Hon Hai, is the world's largest contract electronics maker and assembles products for international brands such as Apple and Sony.

It employs about one million workers at its factories across China.

Tsai Yi-wei, who worked in the company's testing department, had instructed eight employees at Foxconn's factory in the southern Chinese city of Shenzhen to smuggle out iPhone 5 and iPhone 5s test models between July 2013 and December 2014, the high court said.

Tsai and his accomplices then sold the phones, which were supposed to be scrapped, to stores in Shenzhen.

He was sentenced to two years and four months in prison on Thursday and can appeal the ruling.

"The defendant was the head of a department but violated the company's trust," the court said in a statement.

Foxconn reported the case to Taiwanese authorities following an internal audit and Tsai was indicted in late 2016.

The firm has been hit by a number of scandals in recent years, from employee misconduct to labour disputes.

In 2016, five former Foxconn employees were given up to 10 years and six months in prison for soliciting Tw$160 million in kickbacks from suppliers in exchange for clearing quality checks and buying their equipment.

The company had also come under the spotlight over labour unrest, from employee suicides to the use of underage interns at its Chinese plants several years ago.

A former manager at Taiwan's technology giant Foxconn has been jailed for stealing and selling 2,000 iPhones to pocket around Tw$8.46 million ($277,000), a court said Friday.

A former manager at Taiwan's technology giant Foxconn has been jailed for stealing and selling 2,000 iPhones to pocket around Tw$8.46 million ($277,000), a court said Friday. Foxconn, also known as Hon Hai, is the world's largest contract electronics maker and assembles products for international brands such as Apple and Sony. It employs about one million workers at its factories across China. Tsai Yi-wei, who worked in the company's testing department, had instructed eight employees at Foxconn's factory in the southern Chinese city of Shenzhen to smuggle out iPhone 5 and iPhone 5s test models between July 2013 and December 2014, the high court said. Tsai and his accomplices then sold the phones, which were supposed to be scrapped, to stores in Shenzhen. He was sentenced to two years and four months in prison on Thursday and can appeal the ruling. "The defendant was the head of a department but violated the company's trust," the court said in a statement. Foxconn reported the case to Taiwanese authorities following an internal audit and Tsai was indicted in late 2016. The firm has been hit by a number of scandals in recent years, from employee misconduct to labour disputes. In 2016, five former Foxconn employees were given up to 10 years and six months in prison for soliciting Tw$160 million in kickbacks from suppliers in exchange for clearing quality checks and buying their equipment. The company had also come under the spotlight over labour unrest, from employee suicides to the use of underage interns at its Chinese plants several years ago.

Foxconn ex-manager jailed for stealing 2,000 iPhones

Qualcomm in a legal filing has <a href="http://www.wionews.com/world/apple-could-drop-qualcomm-components-in-next-years-iphones-ipads-sources-23251">said Apple stole its chip secrets</a> and gave it to Intel costing the company billions of dollars.

<a href="http://www.wionews.com/world/apple-could-drop-qualcomm-components-in-next-years-iphones-ipads-sources-23251">Also Read:&nbsp;Qualcomm's US $44 billion NXP offer deadline passes, no word from China</a>

In the lawsuit, Qualcomm asserted that Apple "engaged in a years-long campaign of false promises, stealth, and subterfuge designed to steal Qualcomm's confidential information and trade secrets in order to help Intel and other rivals field competing mobile chips."

Apple's iPhone's had Qualcomm chips but the company turned to Intel after legal battle opened with the chip-making company. Apple shifted to Intel chips two years ago with the launch of iPhone-7.

Apple's goal was to buy mobile chips from Intel instead of depending on Qualcomm, the court document claimed.

Apple on its part said it had allowed &nbsp;Qualcomm the chance to verify and that it had refused to answer questions on information it had shared with Intel.

In dispute being heard at San Diego County Superior Court, Apple has accused Qualcomm of unfair patent licensing practices, the chip-making giant, in turn, accused the most valuable company in the world of patent infringement.

Qualcomm has previously said it gave Apple access to its confidential software tools to help Apple integrate its modem chips into the iPhone.

On Tuesday, Qualcomm alleged that, since filing its lawsuit in November, it has discovered that Apple repeatedly used Qualcomm software to help Intel's engineers "improve the sub-par performance of Intel's chipsets."

In Tuesday's filing, Qualcomm alleged that Apple used the tools to open "log files" from Qualcomm and then gave those files to Intel engineers.

"Intel engineers even complained to Apple engineers about being unable to open Qualcomm log files, which Apple had provided to Intel, for lack of the appropriate Qualcomm tools," Qualcomm said in its filing.

"In response, Apple engineers routinely used Qualcomm tools to create post-processed log files, which they sent to Intel engineers to use in improving Intel's chipset solutions," it added.&nbsp;

Qualcomm in a legal filing has said Apple stole its chip secrets and gave it to Intel costing the company billions of dollars. Also Read: Qualcomm's US $44 billion NXP offer deadline passes, no word from China In the lawsuit, Qualcomm asserted that Apple "engaged in a years-long campaign of false promises, stealth, and subterfuge designed to steal Qualcomm's confidential information and trade secrets in order to help Intel and other rivals field competing mobile chips.

Qualcomm in a legal filing has said Apple stole its chip secrets and gave it to Intel costing the company billions of dollars. Also Read: Qualcomm's US $44 billion NXP offer deadline passes, no word from China In the lawsuit, Qualcomm asserted that Apple "engaged in a years-long campaign of false promises, stealth, and subterfuge designed to steal Qualcomm's confidential information and trade secrets in order to help Intel and other rivals field competing mobile chips." Apple's iPhone's had Qualcomm chips but the company turned to Intel after legal battle opened with the chip-making company. Apple shifted to Intel chips two years ago with the launch of iPhone-7. Apple's goal was to buy mobile chips from Intel instead of depending on Qualcomm, the court document claimed. Apple on its part said it had allowed Qualcomm the chance to verify and that it had refused to answer questions on information it had shared with Intel. In dispute being heard at San Diego County Superior Court, Apple has accused Qualcomm of unfair patent licensing practices, the chip-making giant, in turn, accused the most valuable company in the world of patent infringement. Qualcomm has previously said it gave Apple access to its confidential software tools to help Apple integrate its modem chips into the iPhone. On Tuesday, Qualcomm alleged that, since filing its lawsuit in November, it has discovered that Apple repeatedly used Qualcomm software to help Intel's engineers "improve the sub-par performance of Intel's chipsets." In Tuesday's filing, Qualcomm alleged that Apple used the tools to open "log files" from Qualcomm and then gave those files to Intel engineers. "Intel engineers even complained to Apple engineers about being unable to open Qualcomm log files, which Apple had provided to Intel, for lack of the appropriate Qualcomm tools," Qualcomm said in its filing. "In response, Apple engineers routinely used Qualcomm tools to create post-processed log files, which they sent to Intel engineers to use in improving Intel's chipset solutions," it added.

Apple stole chip secrets to help Intel, alleges Qualcomm in US court

Alphabet Inc's Google gave details about its policies for third-party Gmail add-ons but stopped short of fully addressing questions from US senators about developers who break its email-scanning rules.

How user data flows between big technology platforms such as Google and Facebook Inc and their partners has faced scrutiny around the world this year since Facebook revealed it had done little to monitor such relationships.

Google said in a letter to US senators made public on Thursday that it relies on automated scans and reports from security researchers to monitor add-ons after launch, but did not respond to lawmakers' request to say how many have been caught violating the company's policies.

Senators may seek further clarity on Gmail's operations at a Commerce Committee hearing about privacy practices scheduled for September 26 with officials from Google, Apple Inc, AT&amp;T Inc and Twitter Inc.

Google did not immediately respond to a request for comment.

Gmail users must give their consent to activate extensions, which can help them send emails on a time delay, get price-match rebates from retailers and remove unwanted mailing lists.

Under Google's policies, software firms that create these add-ons must inform users about how they collect and share Gmail data.

The lawmakers' inquiry came after the Wall Street Journal reported in July that some add-on makers did not make clear to users that their employees could review Gmail messages and that their data could be shared with additional parties.

Software experts told Reuters in March that auditing of apps that interact with Gmail, Facebook and other services is lax.

To be sure, sharing with a fourth party is essential to the functioning of some add-ons. For instance, a trip-planning app may scan a users' email for upcoming flight details and then use the data to query an airline for updated departure information.

Google told senators it has suspended apps due to "a lack of transparency to users," without identifying violators or when enforcement actions took place.

Gmail, used by 1.4 billion people, is not the only Google service drawing lawmaker questions about oversight.

House lawmakers asked Google in a separate letter in July whether smartphones with its voice assistant tool can or do collect so-called "non-triggered" audio in order to recognise phrases like "Okay Google" that activate voice controls.

The lawmakers cited media reports and said there had been suggestions that third-party applications have access to and use this non-triggered data without disclosure to users.

Alphabet Inc's Google gave details about its policies for third-party Gmail add-ons but stopped short of fully addressing questions from US senators about developers who break its email-scanning rules.

Alphabet Inc's Google gave details about its policies for third-party Gmail add-ons but stopped short of fully addressing questions from US senators about developers who break its email-scanning rules. How user data flows between big technology platforms such as Google and Facebook Inc and their partners has faced scrutiny around the world this year since Facebook revealed it had done little to monitor such relationships. Google said in a letter to US senators made public on Thursday that it relies on automated scans and reports from security researchers to monitor add-ons after launch, but did not respond to lawmakers' request to say how many have been caught violating the company's policies. Senators may seek further clarity on Gmail's operations at a Commerce Committee hearing about privacy practices scheduled for September 26 with officials from Google, Apple Inc, AT&T Inc and Twitter Inc. Google did not immediately respond to a request for comment. Gmail users must give their consent to activate extensions, which can help them send emails on a time delay, get price-match rebates from retailers and remove unwanted mailing lists. Under Google's policies, software firms that create these add-ons must inform users about how they collect and share Gmail data. The lawmakers' inquiry came after the Wall Street Journal reported in July that some add-on makers did not make clear to users that their employees could review Gmail messages and that their data could be shared with additional parties. Software experts told Reuters in March that auditing of apps that interact with Gmail, Facebook and other services is lax. To be sure, sharing with a fourth party is essential to the functioning of some add-ons. For instance, a trip-planning app may scan a users' email for upcoming flight details and then use the data to query an airline for updated departure information. Google told senators it has suspended apps due to "a lack of transparency to users," without identifying violators or when enforcement actions took place. Gmail, used by 1.4 billion people, is not the only Google service drawing lawmaker questions about oversight. House lawmakers asked Google in a separate letter in July whether smartphones with its voice assistant tool can or do collect so-called "non-triggered" audio in order to recognise phrases like "Okay Google" that activate voice controls. The lawmakers cited media reports and said there had been suggestions that third-party applications have access to and use this non-triggered data without disclosure to users.

Google defends Gmail data sharing, gives few details on violations

Apple Inc expects to ship 80 million new model iPhones this year, down 20 percent from what it had planned at the same time last year, Japanese financial daily the Nikkei reported on Friday, citing industry sources.

The California-based firm has asked suppliers to make about 20 percent fewer components for the three new iPhones it plans to launch in the second half of 2018, compared to last year's plans for its iPhone X and iPhone 8 models, the paper reported.

The report added to concerns that consumer passion for new editions of the iconic smartphones may be cooling after years of scorching growth, sending shares in Apple and many of its major suppliers lower and weighing on global stock markets.

"This news needs to be viewed in the context of Apple probably being overly optimistic last year in relation to the prospects for its new phones, leaving it with excess inventory in the first part of this year," Atlantic Equities analyst James Cordwell said.

"At least part of this lower order forecast probably relates to Apple just being a little more realistic."

Apple did not immediately respond to a request for comment.

Shares in the company fell as much as 2 percent on the report, while those in suppliers AMS and Dialog Semi sank 6 percent and 4.1 percent respectively.

US-based supplier Advanced Micro Devices, Micron Technology Intel, Broadcom Inc and Qualcomm Inc were all down between 1 percent and 4 percent.

Many analysts have said the high price of the iPhone X - which sells for $1,000 and is the first iPhone to sport a new design since the launch of the iPhone 6 in 2015 - is also muting demand for the flagship.

"Apple is quite conservative in terms of placing new orders for upcoming iPhones this year," said one of four industry sources cited by the Nikkei Asian Review.

"For the three new models specifically, the total planned capacity could be up to 20 percent fewer than last year's orders."

Top Apple analyst Ming-Chi Kuo said earlier this week that Apple might cut prices of new iPhones to debut later this year by as much as $300, according to several media reports.

Kuo said that Apple was likely to launch a 6.5-inch OLED "IPhone X Plus," a second generation of iPhone X and an iPhone with a 6.1 inch screen.

"As the improvements made to the iPhone each year become increasingly marginal it may become more difficult to convince consumers to pay up for the latest model, when an older generation device is effectively just as good," said Atlantic Equities' Cordwell.

While media speculation about demand for the iPhone X swirled in the past six months, Apple's market value has continued to rise and is now within striking distance of $1 trillion.

DA&nbsp;Davidson & Co analyst Thomas Forte also played down any fears.

"I am not overly concerned ... about the lower supply speculations," he said. "Apple is doing enough in general to keep the ball moving forward."

The California-based firm has asked suppliers to make about 20 percent fewer components for the three new iPhones it plans to launch in the second half of 2018, compared to last year's plans for its iPhone X and iPhone 8 models, the paper reported.

Apple Inc expects to ship 80 million new model iPhones this year, down 20 percent from what it had planned at the same time last year, Japanese financial daily the Nikkei reported on Friday, citing industry sources. The California-based firm has asked suppliers to make about 20 percent fewer components for the three new iPhones it plans to launch in the second half of 2018, compared to last year's plans for its iPhone X and iPhone 8 models, the paper reported. The report added to concerns that consumer passion for new editions of the iconic smartphones may be cooling after years of scorching growth, sending shares in Apple and many of its major suppliers lower and weighing on global stock markets. "This news needs to be viewed in the context of Apple probably being overly optimistic last year in relation to the prospects for its new phones, leaving it with excess inventory in the first part of this year," Atlantic Equities analyst James Cordwell said. "At least part of this lower order forecast probably relates to Apple just being a little more realistic." Apple did not immediately respond to a request for comment. Shares in the company fell as much as 2 percent on the report, while those in suppliers AMS and Dialog Semi sank 6 percent and 4.1 percent respectively. US-based supplier Advanced Micro Devices, Micron Technology Intel, Broadcom Inc and Qualcomm Inc were all down between 1 percent and 4 percent. Many analysts have said the high price of the iPhone X - which sells for $1,000 and is the first iPhone to sport a new design since the launch of the iPhone 6 in 2015 - is also muting demand for the flagship. "Apple is quite conservative in terms of placing new orders for upcoming iPhones this year," said one of four industry sources cited by the Nikkei Asian Review. "For the three new models specifically, the total planned capacity could be up to 20 percent fewer than last year's orders." Top Apple analyst Ming-Chi Kuo said earlier this week that Apple might cut prices of new iPhones to debut later this year by as much as $300, according to several media reports. Kuo said that Apple was likely to launch a 6.5-inch OLED "IPhone X Plus," a second generation of iPhone X and an iPhone with a 6.1 inch screen. "As the improvements made to the iPhone each year become increasingly marginal it may become more difficult to convince consumers to pay up for the latest model, when an older generation device is effectively just as good," said Atlantic Equities' Cordwell. While media speculation about demand for the iPhone X swirled in the past six months, Apple's market value has continued to rise and is now within striking distance of $1 trillion. DA Davidson & Co analyst Thomas Forte also played down any fears. "I am not overly concerned ... about the lower supply speculations," he said. "Apple is doing enough in general to keep the ball moving forward."

Apple to make 20 per cent fewer new model iPhones this year: Nikkei

Facebook has formed data-sharing partnerships with 60 device makers, including Apple and Microsoft, giving them access to information of users and even their friends, a media report has claimed, weeks after the social media faced massive backlash for improperly sharing personal data of up to 87 million people.

The New York Times yesterday revealed the partnerships, shedding new light on the social media giant's behaviour related to customer data in the wake of a scandal involving the British political consulting firm Cambridge Analytica.

Facebook, which was founded in 2004, has reached data-sharing partnerships with at least 60 device makers including Apple, Amazon, BlackBerry, Microsoft and Samsung over the last decade, starting before Facebook apps were widely available on smartphones, company officials were quoted as saying by the report.

The deals allowed Facebook to expand its reach and let device makers offer customers popular features of the social network, such as messaging, "like" buttons and address books. The agreements that Facebook entered raise "concerns about the company's privacy protections and compliance with a 2011 consent decree" with the Federal Trade Commission, the report said.

"Facebook allowed the device companies access to the data of users' friends without their explicit consent, even after declaring that it would no longer share such information with outsiders," the daily said reporting the results of its investigation.

Some device makers could retrieve personal information even from users' friends who believed they had barred any sharing, The New York Times found.

In interviews to The New York Times, Facebook however defended its data sharing agreement and asserted that these are consistent with its privacy policies, the FTC agreement and pledges to users.

"These partnerships work very differently from the way in which app developers use our platform," Ime Archibong, Facebook vice president told the daily.

Unlike developers that provide games and services to Facebook users, the device partners can use Facebook data only to provide versions of "the Facebook experience," the officials were quoted as saying.

"You might think that Facebook or the device manufacturer is trustworthy. But the problem is that as more and more data is collected on the device and if it can be accessed by apps on the device it creates serious privacy and security risks," Serge Egelman, a privacy researcher at the University of California, Berkeley, who studies the security of mobile apps, told the daily.

The report comes as Facebook has come under scrutiny for its handling of private data after it was revealed that Cambridge Analytica accessed millions of users' private information.

In April, Facebook CEO Mark Zuckerberg had admitted making a "huge mistake" as personal data of up to 87 million users may have been improperly shared with Cambridge Analytica.&nbsp;

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&nbsp;

The deals allowed Facebook to expand its reach and let the device makers offer customers popular features of the social network, such as 'like' buttons and address books

Facebook has formed data-sharing partnerships with 60 device makers, including Apple and Microsoft, giving them access to information of users and even their friends, a media report has claimed, weeks after the social media faced massive backlash for improperly sharing personal data of up to 87 million people. The New York Times yesterday revealed the partnerships, shedding new light on the social media giant's behaviour related to customer data in the wake of a scandal involving the British political consulting firm Cambridge Analytica. Facebook, which was founded in 2004, has reached data-sharing partnerships with at least 60 device makers including Apple, Amazon, BlackBerry, Microsoft and Samsung over the last decade, starting before Facebook apps were widely available on smartphones, company officials were quoted as saying by the report. The deals allowed Facebook to expand its reach and let device makers offer customers popular features of the social network, such as messaging, "like" buttons and address books. The agreements that Facebook entered raise "concerns about the company's privacy protections and compliance with a 2011 consent decree" with the Federal Trade Commission, the report said. "Facebook allowed the device companies access to the data of users' friends without their explicit consent, even after declaring that it would no longer share such information with outsiders," the daily said reporting the results of its investigation. Some device makers could retrieve personal information even from users' friends who believed they had barred any sharing, The New York Times found. In interviews to The New York Times, Facebook however defended its data sharing agreement and asserted that these are consistent with its privacy policies, the FTC agreement and pledges to users. "These partnerships work very differently from the way in which app developers use our platform," Ime Archibong, Facebook vice president told the daily. Unlike developers that provide games and services to Facebook users, the device partners can use Facebook data only to provide versions of "the Facebook experience," the officials were quoted as saying. "You might think that Facebook or the device manufacturer is trustworthy. But the problem is that as more and more data is collected on the device and if it can be accessed by apps on the device it creates serious privacy and security risks," Serge Egelman, a privacy researcher at the University of California, Berkeley, who studies the security of mobile apps, told the daily. The report comes as Facebook has come under scrutiny for its handling of private data after it was revealed that Cambridge Analytica accessed millions of users' private information. In April, Facebook CEO Mark Zuckerberg had admitted making a "huge mistake" as personal data of up to 87 million users may have been improperly shared with Cambridge Analytica. ×

Facebook shared user data with over 60 device makers including Apple, Samsung: Report

The US jury on Thursday directed Samsung to pay US $539 million to Apple Inc for copying patented smartphone designs and features, bringing a years-long feud between the technology companies into its final stages.

The award appeared to be a bit of a victory for Apple, which had argued in court that design was essential to the iPhone. The case was keenly watched as a precedent for whether design is so important that it could actually be considered the "article of design" even in a product as complex as a smartphone.&nbsp;

"We don't think it is supported by the evidence," Samsung attorney John Quinn told US District Court Judge Lucy Koh after the verdict was read in her courtroom in Silicon Valley.

"We have every concern about the determinations about the article of manufacture."

Quinn declined an offer by the judge to send jurors back for further deliberation, saying Samsung would pursue post-trial motions to address its concerns about the verdict.

Juror Christine Calderon said the panel agreed that one of the design patents - the grid of coloured icons - did represent the whole phone, while the other two at issue in the trial were seen as the display assembly that gave the iPhone its look.

The world’s top smartphone rivals have been in court over patents since 2011, when Apple filed a lawsuit alleging Samsung’s smartphones and tablets “slavishly” copied its products. Samsung was found liable in a 2012 trial, but a disagreement over the amount to be paid led to the current retrial over damages where arguments ended on May 18.

Samsung previously paid Apple $399 million to compensate Apple for infringement of some of the patents at issue in the case. The jury has been deliberating the case since last week.

In a statement, Apple said it was pleased that the members of the jury "agree that Samsung should pay for copying our products."

"We believe deeply in the value of design," Apple said in its statement. "This case has always been about more than money."

The new jury verdict followed a trial in San Jose, California, before Judge Lucy Koh that focused on how much Samsung should pay for infringing Apple patents covering aspects of the iPhone's design. The jury awarded Apple $533.3 million for Samsung's violation of so-called design patents and $5.3 million for the violation of so-called utility patents.

Apple this year told jurors it was entitled to $1 billion in profits Samsung made from selling infringing phones, saying the iPhone's design was crucial to their success.

Samsung sought to limit damages to about $28 million, saying it should only pay for profits attributable to the components of its phones that infringed Apple patents.

The case was keenly watched as a precedent for whether design is so important that it could actually be considered the "article of design" even in a product as complex as a smartphone

The US jury on Thursday directed Samsung to pay US $539 million to Apple Inc for copying patented smartphone designs and features, bringing a years-long feud between the technology companies into its final stages. The award appeared to be a bit of a victory for Apple, which had argued in court that design was essential to the iPhone. The case was keenly watched as a precedent for whether design is so important that it could actually be considered the "article of design" even in a product as complex as a smartphone. "We don't think it is supported by the evidence," Samsung attorney John Quinn told US District Court Judge Lucy Koh after the verdict was read in her courtroom in Silicon Valley. "We have every concern about the determinations about the article of manufacture." Quinn declined an offer by the judge to send jurors back for further deliberation, saying Samsung would pursue post-trial motions to address its concerns about the verdict. Juror Christine Calderon said the panel agreed that one of the design patents - the grid of coloured icons - did represent the whole phone, while the other two at issue in the trial were seen as the display assembly that gave the iPhone its look. The world’s top smartphone rivals have been in court over patents since 2011, when Apple filed a lawsuit alleging Samsung’s smartphones and tablets “slavishly” copied its products. Samsung was found liable in a 2012 trial, but a disagreement over the amount to be paid led to the current retrial over damages where arguments ended on May 18. Samsung previously paid Apple $399 million to compensate Apple for infringement of some of the patents at issue in the case. The jury has been deliberating the case since last week. In a statement, Apple said it was pleased that the members of the jury "agree that Samsung should pay for copying our products." "We believe deeply in the value of design," Apple said in its statement. "This case has always been about more than money." The new jury verdict followed a trial in San Jose, California, before Judge Lucy Koh that focused on how much Samsung should pay for infringing Apple patents covering aspects of the iPhone's design. The jury awarded Apple $533.3 million for Samsung's violation of so-called design patents and $5.3 million for the violation of so-called utility patents. Apple this year told jurors it was entitled to $1 billion in profits Samsung made from selling infringing phones, saying the iPhone's design was crucial to their success. Samsung sought to limit damages to about $28 million, saying it should only pay for profits attributable to the components of its phones that infringed Apple patents.

Samsung to pay $539 million to Apple for copying patented smartphone designs, features

Apple is on the verge of becoming the first $1 trillion publicly listed US&nbsp;company, but even if it gets there, it could soon be overtaken as Amazon.com surges from behind.

Started in the garage of co-founder Steve Jobs in 1976, the iPhone maker's annual revenue has ballooned to $229 billion, greater than the gross domestic product of countries including Portugal and New Zealand.

Apple's market capitalisation on Thursday topped a record $934 billion, following its unveiling last week of a $100 billion buyback budget and news that Warren Buffett's Berkshire Hathaway dramatically increased its stake in the company.

Thanks to a 12 percent rally since its quarterly report last Tuesday, the Cupertino, California company is just 8 percent short of hitting the $1 trillion valuation mark.

Pointing to Apple's recent 31 percent jump in service revenue, including music streaming and online storage, CFRA analyst Angelo Zino on Wednesday upped his target price for the stock from $195 to $210, which would put Apple's market capitalisation at $1.03 trillion. Zino joins at least 12 other analysts with price targets putting Apple's stock market value at 13 digits.

But Apple is in danger of being beaten to the $1 trillion mark - or passed soon after - by Amazon.com, the second largest listed U.S. company by market value, at $780 billion.

While $148 billion smaller than Apple on Friday, Amazon of late has expanded its stock price, and its sales, much more quickly than Apple. Amazon's stock is red hot, trading recently at over 100 times expected earnings, compared to more-profitable - but slower growing - Apple's valuation of 15 times earnings.

Apple's stock has risen 24 percent over the past year, fueled by optimism about the iPhone X, the company's latest smartphone. But demand for the $1,000 device has underwhelmed investors, and bulls are now focused on Apple's plan to return more cash to shareholders.

By comparison, Amazon's stock has surged 70 percent over the past 12 months, bolstered by 31 percent revenue growth as more shopping moves online and businesses shift their IT departments to the cloud, where Amazon Web Services leads the market.

Amazon is also competing more with Apple and Google owner Alphabet as it sells music and video content, its Fire TV device and&nbsp;Alexa smart home gadget.

Started in the garage of co-founder Steve Jobs in 1976, the iPhone maker's annual revenue has ballooned to $229 billion, greater than the gross domestic product of countries including Portugal and New Zealand.

Apple is on the verge of becoming the first $1 trillion publicly listed US company, but even if it gets there, it could soon be overtaken as Amazon.com surges from behind. Started in the garage of co-founder Steve Jobs in 1976, the iPhone maker's annual revenue has ballooned to $229 billion, greater than the gross domestic product of countries including Portugal and New Zealand. Apple's market capitalisation on Thursday topped a record $934 billion, following its unveiling last week of a $100 billion buyback budget and news that Warren Buffett's Berkshire Hathaway dramatically increased its stake in the company. Thanks to a 12 percent rally since its quarterly report last Tuesday, the Cupertino, California company is just 8 percent short of hitting the $1 trillion valuation mark. Pointing to Apple's recent 31 percent jump in service revenue, including music streaming and online storage, CFRA analyst Angelo Zino on Wednesday upped his target price for the stock from $195 to $210, which would put Apple's market capitalisation at $1.03 trillion. Zino joins at least 12 other analysts with price targets putting Apple's stock market value at 13 digits. But Apple is in danger of being beaten to the $1 trillion mark - or passed soon after - by Amazon.com, the second largest listed U.S. company by market value, at $780 billion. While $148 billion smaller than Apple on Friday, Amazon of late has expanded its stock price, and its sales, much more quickly than Apple. Amazon's stock is red hot, trading recently at over 100 times expected earnings, compared to more-profitable - but slower growing - Apple's valuation of 15 times earnings. Apple's stock has risen 24 percent over the past year, fueled by optimism about the iPhone X, the company's latest smartphone. But demand for the $1,000 device has underwhelmed investors, and bulls are now focused on Apple's plan to return more cash to shareholders. By comparison, Amazon's stock has surged 70 percent over the past 12 months, bolstered by 31 percent revenue growth as more shopping moves online and businesses shift their IT departments to the cloud, where Amazon Web Services leads the market. Amazon is also competing more with Apple and Google owner Alphabet as it sells music and video content, its Fire TV device and Alexa smart home gadget.

Apple is almost a $1 trillion company, but watch out for Amazon

Exactly 20 years ago today Steve Jobs launched the original Bondi Blue iMac and from thereon out Apple has only escalated.&nbsp;

On May 6, 1998, Apple's first-generation iMac computer paved way for advanced computing technologies as we know today. &nbsp;It featured a 15-inch CRT screen, a meager 4GB hard drive.

Featuring the all-in-one design with a translucent blue shell, it came with a number of key features, such as being the first computer to rely solely upon USB ports and come without a floppy disk drive.&nbsp;

The company's first two home computers, the Apple II and the Mac, were falling out of favor, and Apple was losing serious ground to its competitors.

But then, in 1997, co-founder Steve Jobs returned to the company as CEO. Less than a year later, he introduced&nbsp;iMac.

Also,&nbsp;iMac was the first product that was introduced with letter 'i' which has now become its signature with the ipad's and iPhone's.&nbsp;

In celebration of iMac's 20th anniversary, Tim Cook posted the video of the desktop's launch from 1998.&nbsp;

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<blockquote class="twitter-tweet" data-lang="en">
20 years ago today, Steve introduced the world to iMac. It set Apple on a new course and forever changed the way people look at computers. <a href="https://t.co/GbKno7YBHl">pic.twitter.com/GbKno7YBHl</a>
— Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/993168814505213952?ref_src=twsrc%5Etfw">May 6, 2018</a></blockquote>
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The iMac was shipped in August 1998 and eventually came up with more colours because of its huge success.&nbsp;

Despite the entry-level specifications, as compared to the computers today, the iMac was responsible for bringing Apple back into the business after years of business blunders, Engadget has reported.

From USD 1,299-priced original iMac to the present-day iMac Pro at USD 4,999, Apple has brought in revolutionary technology at a premium.&nbsp;

On May 6, 1998, Apple's first-generation iMac computer paved way for advanced computing technologies as we know today. It featured a 15-inch CRT screen, a meager 4GB hard drive

Exactly 20 years ago today Steve Jobs launched the original Bondi Blue iMac and from thereon out Apple has only escalated. On May 6, 1998, Apple's first-generation iMac computer paved way for advanced computing technologies as we know today. It featured a 15-inch CRT screen, a meager 4GB hard drive. Featuring the all-in-one design with a translucent blue shell, it came with a number of key features, such as being the first computer to rely solely upon USB ports and come without a floppy disk drive. The company's first two home computers, the Apple II and the Mac, were falling out of favor, and Apple was losing serious ground to its competitors. But then, in 1997, co-founder Steve Jobs returned to the company as CEO. Less than a year later, he introduced iMac. Also, iMac was the first product that was introduced with letter 'i' which has now become its signature with the ipad's and iPhone's. In celebration of iMac's 20th anniversary, Tim Cook posted the video of the desktop's launch from 1998. 20 years ago today, Steve introduced the world to iMac. It set Apple on a new course and forever changed the way people look at computers. pic.twitter.com/GbKno7YBHl — Tim Cook (@tim_cook) May 6, 2018 × The iMac was shipped in August 1998 and eventually came up with more colours because of its huge success. Despite the entry-level specifications, as compared to the computers today, the iMac was responsible for bringing Apple back into the business after years of business blunders, Engadget has reported. From USD 1,299-priced original iMac to the present-day iMac Pro at USD 4,999, Apple has brought in revolutionary technology at a premium.

iMac turns 20 today, take a look at its first-ever launch in 1998

The quarterly results of Apple escalated more than the expected Wall Street forecast as the company beat revenue and profit expectations in its March quarter&nbsp;

The results revived after Apple sold 62.2 million iPhones.The sales also promised $100 billion in additional stock buybacks.

The results revived after it had experienced a drop following growing concern over the iPhone.

The company was also more optimistic about current quarter where its shares drove up 3.6 pe rcent to $ 175.25 after hours.

Apple was being given warnings about smartphone weakness and that the company was becoming too reliant on the iPhone and was not responding to demands of computers, tablets and smartphones.

The iPhone sales this year accounted for 52.2 million against the Wall Street target of 52.3 million. This was more than last year's sale which crossed 50.7 million.

The company brought $23.5 billion of stock in the March quarter and it planned to hike its divindend 16 per cent.

Apple posted revenue for its March quarter of $61.1 billion, up from $52.9 billion last year. Wall Street expected $60.8 billion

Average selling prices for iPhones were $728, compared with Wall Street expectations of $742. The figure is up more than 10 per cent from $655 a year ago, suggesting that Apple’s iPhone X, which starts at $999, has helped boost prices.

Profits were $2.73 per share versus expectations of $2.68 per share, as of Monday, and up from $2.10 a year ago.

Apple’s services business, which includes Apple Music, the App Store and iCloud, posted $9.1 billion in revenue compared with expectations of $8.3 billion.

&nbsp;

(With inputs from Reuters)

The results revived after Apple sold 62.2 million iPhones.The sales also promised $100 billion in additional stock buybacks

The quarterly results of Apple escalated more than the expected Wall Street forecast as the company beat revenue and profit expectations in its March quarter The results revived after Apple sold 62.2 million iPhones.The sales also promised $100 billion in additional stock buybacks. The results revived after it had experienced a drop following growing concern over the iPhone. The company was also more optimistic about current quarter where its shares drove up 3.6 pe rcent to $ 175.25 after hours. Apple was being given warnings about smartphone weakness and that the company was becoming too reliant on the iPhone and was not responding to demands of computers, tablets and smartphones. The iPhone sales this year accounted for 52.2 million against the Wall Street target of 52.3 million. This was more than last year's sale which crossed 50.7 million. The company brought $23.5 billion of stock in the March quarter and it planned to hike its divindend 16 per cent. Apple posted revenue for its March quarter of $61.1 billion, up from $52.9 billion last year. Wall Street expected $60.8 billion Average selling prices for iPhones were $728, compared with Wall Street expectations of $742. The figure is up more than 10 per cent from $655 a year ago, suggesting that Apple’s iPhone X, which starts at $999, has helped boost prices. Profits were $2.73 per share versus expectations of $2.68 per share, as of Monday, and up from $2.10 a year ago. Apple’s services business, which includes Apple Music, the App Store and iCloud, posted $9.1 billion in revenue compared with expectations of $8.3 billion. (With inputs from Reuters)

Apple beats profit expectations, plans $100 billion cash return boost

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