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eCommerce Pakistan, Karachi (2024)

28/01/2024

Apple today announced changes to iOS, Safari, and the App Store impacting developers’ apps in the European Union (EU) to comply with the Digital Markets Act (DMA). The changes include more than 600 new APIs, expanded app analytics, functionality for alternative browser engines, and options for processing app payments and distributing iOS apps. Across every change, Apple is introducing new safeguards that reduce — but don’t eliminate — new risks the DMA poses to EU users. With these steps, Apple will continue to deliver the best, most secure experience possible for EU users.

The new options for processing payments and downloading apps on iOS open new avenues for malware, fraud and scams, illicit and harmful content, and other privacy and security threats. That’s why Apple is introducing protections — including Notarization for iOS apps, an authorization for marketplace developers, and disclosures on alternative payments — to reduce risks and deliver the best, most secure experience possible for users in the EU. Even with these safeguards in place, many risks remain. Developers can learn about these changes on the Apple Developer Support page and can begin testing new capabilities today in the iOS 17.4 beta. The new capabilities will become available to users in the 27 EU countries beginning in March 2024.

“The changes we’re announcing today comply with the Digital Markets Act’s requirements in the European Union, while helping to protect EU users from the unavoidable increased privacy and security threats this regulation brings. Our priority remains creating the best, most secure possible experience for our users in the EU and around the world,” said Phil Schiller, Apple Fellow. “Developers can now learn about the new tools and terms available for alternative app distribution and alternative payment processing, new capabilities for alternative browser engines and contactless payments, and more. Importantly, developers can choose to remain on the same business terms in place today if they prefer.”

28/01/2024

Shares in Tesla plunged 12% Thursday, wiping $80 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals, Tesla’s stock suffered its worst day in 21 months and closed at its lowest level since December 2022. Since the start of 2024, the company’s market capitalization has fallen by $210 billion In an earnings presentation Wednesday, the world’s most valuable automaker said its sales growth this year “may be notably lower” than last as it continued developing the “next-generation” vehicle, likely a lower-priced model. While it reported a sizeable 38% increase in deliveries last year compared with 2022, Tesla had previously targeted a 50% annual growth rate averaged over several years.

Tesla’s (TSLA) financial results for the last quarter also disappointed, with adjusted earnings per share down 40% from a year earlier, and revenue, which rose 3% to top $25 billion, coming in below market forecasts, The stock doubled in price during the course of 2023, but those gains came in during the first half of the year and Tesla shares were off to a weak start in 2024, falling 16% before Wednesday’s earnings report Thursday marked the biggest one-day fall for the stock since late April 2022. Around that time, Tesla had reported ongoing supply chain bottlenecks caused by the pandemic, and had temporarily shut its factory in Shanghai in China due to a coronavirus outbreak.

28/01/2024

NASA said on Thursday its Mars robot helicopter Ingenuity, the first vehicle to achieve powered, controlled flight on another world, has been grounded for good after flying dozens of times over three years, ending a landmark mission that far exceeded all expectations, The fate of Ingenuity was sealed when imagery beamed back to Earth after its 72nd and final flight on Jan. 18 showed that a portion of one of the miniature whirligig's twin rotor blades had broken off, leaving it incapable of further operation, NASA officials said "It is bittersweet that I must announce that Ingenuity, the 'little helicopter that could' - and it kept saying, 'I think I can, I think I can' - well, it has now taken its last flight on Mars," NASA Administrator Bill Nelson said in a video posted on social media.

What was planned as a 30-day technology demonstration of no more than five short flights ended up stretching well beyond the expectations of engineers who designed and built the helicopter at NASA's Jet Propulsion Laboratory (JPL) near Los Angeles. Ingenuity ultimately buzzed over the Martian terrain 14 times farther than originally planned, logging more than two hours, eight minutes of flight time and covering a distance of 10.5 miles (17 km) through all 72 flights. Its peak altitude was measured at 78.7 feet (24 meters), The rotor-craft was carried to the Red Planet strapped to the belly of NASA's Perseverance rover, which landed three years ago on the floor of a vast Martian basin called Jerezo Crater on a separate mission aimed primarily at collecting surface samples for eventual return to Earth.

28/01/2024

Sindh High Court on Wednesday issued directions to incumbent authorities and ordered them to ensure non-stop access to the internet for all citizens till the upcoming elections, The court issued new directions as SHC barred authorities from shutting down internet services, and directed government to submit on January 29. The matter landed in court as political parties accused authorities of disrupting social media and internet services amid virtual rallies ahead of the polls, In recent weeks, users across Pakistan faced slow internet and disruption in access to several social sites including Twitter, YouTube, Facebook, and Instagram, SHC Chief Justice Aqeel Abbasi takes up plea in wake of widespread disruptions to the internet. The petitioner argued that internet suspensions were unjustified and were causing hurdles in the way of electoral campaigning, The caretaker government on the other hand maintained that internet suspension comes in the wake of technical faults and software upgradation.

27/01/2024

Meta announced, that it is taking additional steps to help protect teens on Instagram and Facebook through stricter private message settings, Previously, Meta only restricted adults over the age of 19 from messaging teens who don’t follow them to one text-only message on Instagram. Now, the tech giant revealed that teens will have the direct message (DM) feature turned off by default for individuals they don't follow or aren't connected to, including other teens “Under this new default setting, teens can only be messaged or added to group chats by people they already follow or are connected to, helping teens and their parents feel even more confident that they won’t hear from people they don’t know in their DMs,” Meta added.

Teens who have a supervised account will need their parents’ permission to turn the setting off The new settings will apply to all users under the age of 16 (or 18 in some regions). Users who fall under this category will see a notification at the top of their Feed letting them know that the setting has been changed, The same settings will also apply to teenagers using Messenger wherein they will only be able to receive messages from Facebook friends, or people on their phone contacts, Additionally, Meta said that it also plans to launch a new feature, which will protect teens from “seeing unwanted and potentially inappropriate images in their messages” from people they already know and are connected to. It will also discourage them from sending these types of images themselves, most likely through a pop-up alert.
The co

27/01/2024

In a shocking revelation, reports have emerged suggesting that iPhone users may be at risk of having their data and activities spied on through in-app ads and push notifications. A recent 9to5Mac report highlights that certain in-app ads are being exploited to gather sensitive information from iPhone users, which is then allegedly sent to security services, as reported by 404media. Another report claims that popular apps such as Facebook, TikTok, FB Messenger, Instagram, Threads, and others are utilizing a vulnerability in push notification services to collect user data without their knowledge.

27/01/2024

In a significant market development on Wednesday, Microsoft achieved a milestone by surpassing the $3 trillion valuation mark for the first time. The tech giant secured its position as the second most valuable company globally, trailing just behind Apple. Throughout the year, Microsoft and Apple have engaged in a competitive battle for the top spot as the most capitalised stock on Wall Street. In January, the software giant briefly dethroned the iPhone maker, experiencing a momentary leadership shift.

During the latest surge, Microsoft shares reached a historic peak of $405.63, reflecting a 1.7 per cent increase. This surge propelled the company's market capitalisation above the $3 trillion threshold. However, by the closing bell, the stock retreated to $402.56, resulting in a valuation of $2.99 trillion—just shy of the crucial $403.65 mark required to maintain the $3 trillion status, Contrastingly, Apple's shares relinquished some of their earlier gains, concluding with a 0.35 per cent decline at $194.50. Despite the dip, Apple retained its status as a $3 trillion company, according to data from LSEG.

Microsoft's strategic positioning in the market dominance race within the realm of generative artificial intelligence (AI) is notably underscored by its investment in OpenAI, the creator of ChatGPT. This move positions Microsoft as a frontrunner alongside other tech giants such as Google owner Alphabet, Amazon.com, Oracle, and Meta Platforms, the parent company of Facebook, Leveraging OpenAI's technology, Microsoft has introduced updated versions of its flagship productivity software and revamped its Bing search engine. These advancements are poised to enhance Microsoft's competitiveness, especially in comparison to Google's dominant search offering.

27/01/2024

Google had unveiled the Pixel 8 and 8 Pro smartphones in October last year. The Pixel 8 was originally unveiled in Obsidian, Hazel and Rose colours while the Pixel 8 Pro was introduced in Obsidian, Bay and Porcelain colours. Now, a new "Mint" colour has now been officially introduced, following a cryptic teaser with the caption "Fresh year, fresh drop."In comparison, the Google Pixel 7 was introduced in Lemongrass colourway, which is a lighter shade compared to Mint. Beyond the colour distinction, the new colour option retains the same glass body with a glossy finish and similar specifications.

For fans of the Pixel phone seeking a change from the usual black, hazel and rose gold options that have been there since the phone's October launch, Mint colourway provides a good choice. However, Mint is exclusively available with the base 128GB storage for both models, those looking for additional storage will need to stick to the colour choices available at launch, It is to be noted that since the Pixel 6a in May, Google has not added a greenish colourway for a smartphone. The new Mint colour debuts as the first green option for a flagship Pixel, joining Obsidian (Black), Porcelain (Whitish) and Bay (Blue) as the fourth colour choice.

27/01/2024

The cloud computing arm of Alphabet Inc said on Thursday it had formed a partnership with startup Hugging Face to ease artificial intelligence (AI) software development in the company's Google Cloud, Following the launch of generative AI tools focused on consumers from the likes of Microsoft and Google parent Alphabet, large and small businesses have become interested in deploying AI for their own purposes - such as boosting an existing product or serving an internal need. The need to create AI software that is optimized for specific tasks and needs prompted the partnership.

"It shows we are moving into a world where there's not just one model, but there as many models as companies, Hugging Face Chief Executive Clem Delangue in an interview. "Every company is training, fine tuning and optimizing their own models, which is the direction that the field is taking."Rampaging demand for cloud-based AI computing suggests that at its current trajectory it will overtake the traditional cloud software market in the future, Google Cloud CEO Thomas Kurian said.

The arrangement will allow developers using Google Cloud's technical infrastructure to access and deploy Hugging Face's repository of open source AI software, such as models and data sets. Hugging Face has grown into a central hub for open-source AI software, and signed a similar arrangement in February last year with Amazon.com's cloud unit, The partnership coalesced because cloud customers have become more interested in modifying or building their own AI models versus using off-the-shelf options, Kurian said. One such example is ensuring against specific safety frameworks in place to secure against data leakage, or evaluate the quality of the model running.

27/01/2024

IBM shares jumped nearly 13% to a more than 10-year high on Thursday after the company reported a better-than-expected revenue outlook backed by strong demand for its artificial intelligence (AI) services, Orders from IBM's generative AI business, which includes bookings and sales from services such as those powered by its Watsonx AI platform, doubled in the fourth quarter and are expected to help its revenue grow by around 4%-6% in 2024, the company reported late on Wednesday, Consulting firms and software companies, including Germany's SAP SE, account for much of IBM's AI-related bookings, IBM Chief Financial Officer James Kavanaugh.

IBM shares rose to a peak of $196.89, their highest since June 2013, adding about $20 billion to the company's market capitalization. The stock is now up nearly 11% and on track for its biggest daily percentage gain since March 2020, At least eight Wall Street analysts, including from Bank of America, JPMorgan, Jefferies and Evercore, raised their price targets for IBM's stock following the announcement, The median price target of the 20 analysts covering IBM is $144.50, unchanged from a month ago, and their average recommendation is "hold", according to LSEG data.

IBM's stock is currently trading at about 17 times its next 12-month's expected earnings versus its 2-year historical average of about 14 times, while its peers were trading at about 20 times, per LSEG data In an investor note, JPMorgan analysts led by Brian Essex raised their price target to $190 from $170 "We don't think IBM has seen the valuation benefit that some technology peers have from AI, as recent multiple expansion has trended generally below the primary comparisons we look to for valuation," they said.

26/01/2024

The U.S. National Security Agency buys Americans' internet browsing information from commercial brokers without a warrant, the agency's director told Democratic Senator Ron Wyden in a letter made public on Thursday, Wyden, who released the Dec. 11 letter, called upon U.S. intelligence officials to stop using Americans' personal data without their express knowledge and consent, saying it was unlawful, "Such records can identify Americans who are seeking help from a su***de hotline or a hotline for survivors of sexual assault or domestic abuse," Wyden said in a statement, The NSA responded that the information has significant value for national security and cybersecurity missions and is used sparingly.

"At all stages, NSA takes steps to minimize the collection of U.S. person information, to include application of technical filters," a spokesperson for the agency said in an email, Wyden, a privacy and internet freedom advocate, had blocked the appointment of incoming NSA Director Timothy Haugh until the agency responded to his questions about collecting Americans' internet and location data, NSA Director Paul Nakasone confirmed such purchases in his letter to Wyden, saying the data collected "may include information associated with electronic devices being used outside - and, in certain cases, inside - the United States."

Such records, Wyden said, can reveal which websites Americans' visit and what apps they use, and are in violation of U.S. Federal Trade Commission standards. An FTC order earlier this month barred Virginia-based data broker Outlogic, formerly called X-Mode Social, from selling sensitive location data that helps track people's whereabouts, Wyden said he had written to the Director of National Intelligence Avril Haines asking that the U.S. intelligence community build an inventory of all the personal data of Americans that the NSA has so far, and purge any of it that does not comply with the FTC's standards.

26/01/2024

Intel on Thursday forecast revenue for the first quarter that could miss market estimates by more than $2 billion, as it grapples with uncertain demand for its chips used in the traditional server and personal computer markets, Shares fell 10% in after-hours trading, setting the stock up for a roughly $20 billion fall in market value on Friday if the losses held. Intel stock gained 66% in the past year, as the PHLX Semiconductor Index rose 53%, In an interview, Chief Executive Officer Pat Gelsinger said that the company's core businesses of PCs and servers were hitting seasonal low demand at the same time as noncore businesses such as auto chip firm Mobileye. Intel no longer gives full-year financial forecasts, but Gelsinger said the company has $2 billion worth of orders for its AI chips and expects better sales later in the year.

"We see every quarter improving both year-on-year and sequentially and revenue and earnings as we go through the year."The chipmaker expects adjusted first-quarter revenue in the range of $12.2 billion-$13.2 billion, compared with analysts' average estimate of $14.50 billion, according to LSEG data. Intel forecast first-quarter profit of 13 cents a share, excluding one-time items. Analysts expected 33 cents a share, Heavy investments have toppled Intel's gross margin, which fell to the mid-30s earlier in 2023, from prior highs of over 60%. Intel, however, mildly recouped with an adjusted gross margin of 45.8% in the third quarter. Intel reported a fourth-quarter gross margin of 48.8%.

26/01/2024

Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition, Musk said on Wednesday that growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries, But he said ramping up production of the new model would be challenging because it would involve cutting-edge technologies.

Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on Thursday. That pushed its market capitalization loss for the month to about $210 billion "The Tesla headlines have essentially gone from bad to worse," said TD Cowen analysts, noting that the fourth-quarter revenue and profit were also below expectations Shares of other EV makers also fell, with Rivian Automotive Inc, Lucid Group and Fisker down between 4.7% and 8.8%.

The EV industry has been grappling with a slowdown in demand for more than a year and the price cuts by Tesla will likely worsen the pressure on the startups and automakers such as Ford "The problem for Tesla is any significant attempt to boost sales from here on will probably need to be achieved at the cost of further falls in operating margin, due to having to compete with BYD in China, as well as increased competition elsewhere," said Michael Hewson, chief market analyst at CMC Markets.

26/01/2024

OpenAI CEO Sam Altman is visiting South Korea on Friday and meeting leaders of chipmakers Samsung Electronics and SK Hynix, two sources with knowledge of the matter said, Altman is expected to discuss potential partnerships for making chips, the sources said, declining to be identified OpenAI, Samsung and SK did not have an immediate comment, Altman is trying to raise billions of dollars for a chip venture for setting up a network of factories that will manufacture semiconductors, with chipmakers as potential partners, Bloomberg News reported last week.

Both SK Hynix and Samsung Electronics make high-bandwidth memory (HBM) chips used in artificial intelligence chipsets, while Samsung Electronics also contract manufactures chips in competition with Taiwan Semiconductor Manufacturing Co, SK Hynix said on Thursday it seeks to become a "a total AI memory provider" after reporting a surprise December quarter profit on strong demand for memory chips used in AI.

26/01/2024

PayPal is launching new artificial intelligence-driven products as well as a one-click checkout feature, the company said on Thursday as its chief executive tries to inject new life into the payments giant, It is the first major announcement under Alex Chriss, who joined PayPal in September, and the new products are another example of how companies are trying to tap investor enthusiasm for AI, which helped drive U.S. stock markets to record highs this month, Investors hope Chriss, who was previously a senior executive at software company Intuit, will revive PayPal's stock, which is down more than 22% from January 2023 due to margins which have underwhelmed investors. Chriss has called 2024 a "transition year" for PayPal, and has promised to grow revenues beyond transaction-related volume.

"The data that we have and our ability to actually see what people have bought and know what merchants are trying to target, that's where I think AI is the huge opportunity for us," Chriss in an interview, PayPal shares were last down 4.6% as investors digested the news, "The outcomes of the innovations ... are promising and should improve consumer and merchant experiences," Andrew Harte, an analyst at BTIG, said in a research note. "That said, we do not think investors will view any of them as groundbreaking new information, but instead initiatives they would have expected the company to already be working on."

26/01/2024

Apple on Thursday outlined its plans to allow software developers to distribute their apps to users in the European Union outside of Apple's own App Store, The move is in response to a new EU law called the Digital Markets Act (DMA), which requires companies with more than 45 million monthly active users and a 75 billion-euro ($82 billion) market capitalization to, among other things, make their apps compatible with those of rivals and let users decide which apps to pre-install on their devices, Starting in March, developers will be able to offer alternative app stores on iPhones and opt out of using Apple's in-app payment system, which charges commissions of up to 30%. However, developers will still have to submit apps to Apple for review for cybersecurity risks and obvious fraud, and Apple will charge a "core technology fee" to major app developers even if they do not use any of Apple's payment services.

Tim Sweeney, chief executive of "Fortnite" creator Epic Games, which pursued an antitrust case against Apple in the United States, criticized Apple's planned changes as "hot garbage" and said he does not believe the moves are legal under the DMA "Apple proposes that it can choose which stores are allowed to compete with their App Store," Sweeney said in a series of posts on social media platform X. "They could block Epic from launching the Epic Games Store and distributing 'Fortnite" through it, for example, or block Microsoft, Valve, Good Old Games, or new entrants. Apple released tools on Thursday for developers to begin making changes to their business arrangements, and consumers will see the changes with an update to the iOS operating system in March.

26/01/2024

The United Arab Emirates and its powerful ruler were sued in a Washington court on Wednesday, accused of bankrolling a “dark public relations” operation that falsely linked an American oil trader to terrorist financing, The lawsuit filed by the trader Hazim Nada in the District of Columbia alleges that starting in 2017 the UAE paid a Swiss private intelligence firm, Alp Services, to “seriously damage” his reputation and business in a sweeping smear campaign, The alleged operation against Nada, first reported by The New Yorker last year, spotlights a booming industry of what security analysts call “disinformation-for-hire” enterprises that seed false narratives and peddle influence operations on behalf of governments and other paying clients.

Nada is suing dozens of parties including the UAE, its President Sheikh Mohamed bin Zayed Al Nahyan — often known as MBZ — its national oil company ADNOC, Emirati officials and Alp Services, Nada is seeking damages worth $2.77 billion over the campaign that tipped his commodities trading firm Lord Energy into bankruptcy, his lawyers said, “The United Arab Emirates and some of its top officials managed, directed, and bankrolled a years-long ‘dark’ public relations campaign through the Swiss private investigative firm, Alp Services,” the complaint said.

The lawsuit claimed that the UAE, along with the Geneva-based Alp, paid “journalists” and a professor at George Washington University among others to smear dozens of people including Nada, There was no immediate comment from the UAE embassy in Washington, Alp Services or the professor, Lorenzo Vidino, The lawsuit, based on over 8,000 documents procured by hackers from Alp’s internal servers, stated that the Swiss firm approached the UAE in 2017, offering to use “offensive viral communications” to defame Nada and dozens of other parties seen as hostile to the oil-rich Gulf state.

25/01/2024

Tasla expects to start production of its next-generation electric vehicle at its Texas factory in the second half of 2025, Chief Executive Elon Musk said on Wednesday, after warning of a sharp slowdown in sales growth this year, But Tesla shares were down 6% in after-hours trading as Musk noted that ramping up production of the new vehicle would be challenging. Musk said it would take "a tremendous amount of new revolutionary manufacturing technology" required - a sign that any boost to Tesla's declining pace of growth would take time, His projection followed a Reuters story earlier in the day saying Tesla had told suppliers to prepare for a June 2025 startup of a smaller crossover vehicle, critical for the automaker as it loses share to inexpensive EVs such as those made by China's BYD.

"I'm often optimistic regarding time. But our current schedule shows that we will start production towards the end of 2025, sometime in the second half," Musk told analysts on a post-earnings call, "We'll be sleeping on the line practically," he said, referring to Tesla's factory in Texas, where the new model will be first produced. That will be followed by Mexico and another factory outside North America to be decided later this year, he said, The EV maker also warned of "notably lower" sales growth this year as it focuses on the new vehicle after it reported shrinking fourth-quarter gross margin.

Tesla said it was in between two growth waves: one driven by the release of Models 3 and Y in 2017 and 2020, respectively, and a second wave that would start with the next-generation vehicle platform, Wall Street expects Tesla to sell 2.2 million vehicles this year, according to Visible Alpha. That would be up about 21% from 2023 but well below the long-term target of 50% that Musk set about three years ago. Tesla, however, did not reiterate that target on Wednesday.

25/01/2024

Microsoft's stock market value crossed the $3 trillion milestone for the first time on Wednesday, retaining its place as the world's second most valuable company, just behind Apple., Microsoft and Apple shares have been vying for the top spot as the most capitalized stock on Wall Street since the start of the year, with the iPhone maker briefly losing its crown to the software giant earlier in January, Shares of Microsoft hit a record high of $405.63, up 1.7%, enabling it to breach the $3 trillion market capitalization level. But it later closed at $402.56, valuing Microsoft at $2.99 trillion, just below the threshold price of $403.65 that would have kept it above $3 trillion.

Apple's shares pared earlier gains and closed down 0.35% at $194.50, giving it a market value of $3 trillion, according to LSEG data, Backed by its investment in ChatGPT maker OpenAI, Microsoft is widely seen as a frontrunner in the race for market dominance in the rollout of generative artificial intelligence (AI) among other tech heavyweights, including Google owner Alphabet, Amazon.com, Oracle, and Facebook owner Meta Platforms, Using OpenAI's technology, Microsoft has rolled out newer versions of its flagship productivity software products as well as its Bing search engine, which is expected to better compete with Google's dominant search offering.

25/01/2024

Hackers of cryptocurrency platforms stole around $1.7 billion in 2023, around 54.3% lower than the year before, a Chainalysis report showed on Wednesday, Cyber attacks have been a persistent challenge for the crypto industry, and widespread hacking is one of the reasons why most regulators around the world frown upon crypto, Though stolen funds more than halved, the number of individual hacking incidents grew to 231 last year from 219 in 2022, Chainalysis saidThe number of hacks by North Korea-linked organizations rose to 20 last year, the highest on record. They stole slightly over $1 billion, Chainalysis estimated, compared with $1.7 billion in 2022.

25/01/2024

Apple's smartphone shipments in China shrank 2.1% in the final quarter of 2023 from the same year-ago period, hurt by intensifying competition from local rivals led by Huawei, data from research firm IDC showed on Thursday, The drop underscores the challenges facing the U.S. firm in its third biggest market, as some Chinese companies and government agencies limit employees' use of Apple devices, a measure that mirrors U.S. government restrictions on Chinese apps on security grounds, Huawei, whose smartphone business was decimated by U.S. sanctions, also made a comeback last year with new launches, intensifying competition in the world's biggest smartphone market that grew just 1.2% in the final quarter of 2023.

Huawei's shipments increased 36.2% in the last quarter of the year, the IDC figures showed. The company became the fourth largest smartphone vendor in China in the period with a 13.9% market share, up from 10.3% in the same year-ago quarter For the full year 2023, however, Apple overtook Vivo to become the top smartphone seller with a 17.3% market share, according to IDC. This marks the first time Apple became the top seller in China, but analysts predict its sales will come under pressure again this year, IDC said Apple's high-end market share in China has been impacted by rival products and limited product upgrades by Apple which reduced the overall attractiveness of iPhones.