Apple Stock Drops Amid Indian Investigation into iOS 18 Update

Apple's stock price slipped by 1% after India's consumer watchdog escalated an investigation into the company's software warranty terms.

The review is a response to complaints from customers who claimed that the iOS 18 update caused problems with their iPhones, resulting in expensive repair bills.

According to Counterpoint Research data, India accounted for 9% of the iPhone market last year, up from 4% in 2022, as Apple increased its production and sales presence in the country.

Apple has maintained that software is generally excluded from warranty coverage and that iOS 18 did not create widespread problems. The company also stated that customers were informed of the terms before installing the update.