16:41:13 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Apple CDR (CAD Hedged)
Symbol AAPL
Shares Issued 7,650,000
Close 2023-12-18 C$ 29.12
Market Cap C$ 222,768,000
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Globe/wire say Apple pauses sales of smart watches

2023-12-19 07:36 ET - In the News

The Globe and Mail reports in its Tuesday edition that Apple said on Monday it would pause sales of its Series 9 and Ultra 2 smart watches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices. A Reuters dispatch to The Globe says that the move comes after an order in October from the U.S. International Trade Commission (ITC) that could bar Apple from importing its Apple Watches after finding the devices violate medical technology company Masimo's patent rights. Apple shares were down 1.4 per cent after the news. The decision is under review by U.S. President Joe Biden until Monday, but Apple said it is taking steps to comply should the ruling stand. The Office of the U.S. Trade Representative, the part of the Biden administration handling the case, said that ambassador Katherine Tai "is carefully considering all factors in this case." The ban could go into effect Dec. 26. The company is pausing sales of the watches from its website starting Thursday and from Apple retail locations after Sunday. Other models that do not contain the blood oxygen sensor, like Apple's lower-priced Apple Watch SE model, are unaffected by the dispute.

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