Connect with us

Business

Apple to resume sales of watches without blood oxygen feature

Published

on

Apple plans to remove a blood oxygen monitoring feature from two flagship Apple Watch models in the United States amid a legal battle over patents on the technology behind the feature.

The feature, marketed for fitness purposes, could take a year to resolve. Analysts had expected Apple to strike the feature rather than remove devices from sale in one of its biggest markets.

The company said Apple Watch Series 9 and Ultra 2 models without the feature would go on sale on its website and stores starting at 6 am Pacific Time on Thursday.

Apple shares closed 0.5% lower at $182.68 after the US Court of Appeals for the Federal Circuit ruled on Wednesday the company could no longer sell the models at the centre of a legal battle with medical technology company Masimo.

In December, Masimo secured a decision from the US International Trade Commission (ITC) to halt imports of Apple Watches which, according to Counterpoint Research, comprise about a quarter of the global smartwatch market.

In a statement, Joe Kiani, Masimo’s founder and chief executive, said the court ruling on Wednesday “affirms that even the largest and most powerful companies must respect the intellectual rights of American inventors and must deal with the consequences when they are caught infringing others’ patents.”

Apple said it “strongly disagreed” with the ITC decision and resulting orders and they should be reversed, Reuters reported.

Existing Apple Watches are not affected by the orders, nor are devices sold outside the US.

Series 9 and Ultra 2 models sold in the US from Thursday will still have an app icon for the blood oxygen features. But when users tap those icons, they will informed the features are unavailable.

Ben Bajarin, chief executive of analyst firm Creative Strategies, had expected Apple to disable the blood oxygen features on its Series 9 and Ultra 2 Apple Watch models in the US rather than stop selling the wearable devices.

Apple’s watches, which accounted for $39.84 billion of its overall $383.29 billion in sales for fiscal 2023, accounted for 42% of its overall revenue from North America, despite its smaller sales figures compared to its flagship iPhone.

Business

April FDI in Pakistan increased to $358.8 million, according to SBP

Published

on

By

The inflow for April was $358.8 million, up 177% from $132 million in April FY23. Still, that was 39% more than the $258 million from March.

China was the largest investor, with $439.3 million in FDI from the nation between July and April of FY24—the greatest amount—as opposed to $604 million during the same period of FY23. In April, China accounted for $177 million of the total investment.

With $51.93 and 51.89 million invested in Pakistan, the United Arab Emirates and Canada came in second and third, respectively.

The power industry was the main draw for foreign investors in FY24, which ran from July to April. This period’s FDI in the power industry was $637.5 million, compared to $776.2 million the previous year. From $338 million to $460 million this year, Hydel Power garnered more attention.

Continue reading: In FY23–24, Pakistan’s per capita income increased to $1680.

According to a separate data released on Wednesday, Pakistanis’ per capita income increased to $1680 in FY2023–2024.

The size of the national economy grew from $341 billion to $375 billion in the current fiscal year, according to figures made public by PBS.

Throughout this fiscal year, Pakistanis’ yearly per capita income increased by Rs 90,534; the monthly rise was Rs 7,544.

Continue Reading

Business

OGRA forbids the purchase or sale of inferior LPG cylinders.

Published

on

By

The 313 LPG marketing and 19 cylinder-producing companies received notices from the OGRA, which described the act of refilling inferior LPGO cylinders as harmful.

Avoid supplying LPG to unlicensed distributors, the OGRA has cautioned LPG marketing companies. Only approved distributors will be able to sell and buy LPG going forward, per the notification, which states that new SOPs have been developed for the LPG industry.

Additionally, the warning said that the decision was made in an effort to preserve both lives and the business in response to an increase in cylinder blast occurrences.

Price reductions of Rs 20 per kilogramme for liquefied petroleum gas (LPG) were implemented in Quetta on May 3.

There is a reduction of Rs 20 on LPG prices, which means that the price per kilogramme drops from Rs 280 to Rs 260.

The costs of LPG were reduced by Rs 20 per kilogramme earlier, bringing the total decrease to Rs 40 per kilogramme over a few weeks. This is something worth noticing.

Continue Reading

Business

PIA announces a significant student discount.

Published

on

By

According to an airline spokesman, the national flag carrier has recently raised the baggage allowance to 60 kg.

Currently, PIA flies one flight per week on Sundays between Islamabad and Beijing.

The discount may be useful to students who intend to spend their summer vacations in Pakistan or who wish to return home after earning their degrees.

Before, students who wanted to visit China could now receive a 27% reduction on their fares through PIA.

On Eid ul Fitr, the national flag airline also reduced the cost of domestic flights by 20% for both economy and executive economy classes.

Continue Reading

Trending