Join 34,000+ Traders & Investors by getting our FREE weekly Sunday Cheat Sheet email. Get key market news and events before everyone else. Click Here to See if you Qualify.
In a significant development for tech giant Apple, the White House upheld the US International Trade Commission (ITC) ruling that banned the import and sale of the Apple Watch Series 9 and Apple Watch Ultra 2 in the United States. The tech giant is expected to take matters to court now.
The decision comes after the ITC found Apple violating patents held by medical device company Masimo, specifically related to a pulse oximeter patent leveraging light-based technology for reading blood-oxygen levels.
Apple, which had until the end of Christmas day to see if the White House would intervene, has already taken the affected watch models off its online store.
The company’s Store locations across the country opened without the latest top-of-the-line watches in stock, underscoring the decision’s immediate impact.
The ITC’s ruling, which took effect on December 25, prompted Apple to appeal with the Federal Circuit court. The tech giant is exploring legal and technical avenues to resume imports of the impacted watches, including submitting a redesigned Series 9 and Ultra 2 watches for approval by US Customs.
In a statement issued on Tuesday, Apple expressed its commitment to its products’ impact on users’ lives, especially in the realm of health, fitness, and wellness features for the Apple Watch.
The company strongly disagreed with the USITC decision and the resulting exclusion order, emphasizing that it is taking all measures to promptly restore availability to customers in the US.
The dispute between Apple and Masimo centers around a pulse oximeter patent, with Masimo’s CEO, Joe Kiani, alleging that Apple deliberately infringed on the company’s patents. This clash is not new, as the two companies have been engaged in legal battles for years. In a counter-move in October 2022, Apple filed two patent infringement lawsuits against Masimo. While Apple may explore potential software tweaks to address patent concerns, the ITC’s acceptance of such changes remains uncertain.
The ban affects Apple’s wearables, home, and accessory business, including the Apple Watch, AirPods earbuds, and other products, which generated $8.28 billion in revenue during the third quarter of 2023, according to a company report.
Despite the ban, other retailers, such as Amazon and Best Buy, can continue selling their remaining stock of Apple Watches, providing some relief to consumers seeking the popular smartwatch.
However, the impact on Apple’s market presence and revenue stream remains a focal point as the company navigates this legal challenge.
While the White House’s decision not to intervene aligns with a longstanding precedent of non-intervention in ITC rulings, it underscores the complexity and high stakes of patent disputes in the rapidly evolving landscape of technology and innovation.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.