Apple has agreed to pay up to $500m (€453m) to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries.

It’s hard to believe that the original iPad was launched nearly 10 years ago this year by Steve Jobs. Jobs referred to it as a new category of device and time has proven that he was right.

It is because the coronavirus alert in China has cut production of iPhones.

Hon Hai Precision - also known also as Foxconn - cut its 2020 revenue outlook after deciding to impose strict quarantines at its main iPhone-making base, a measure to guard against the coronavirus outbreak that may hurt Apple.

Wall Street analysts were smitten by a rebound in sales of Apple’s iPhones after a year of decline. So much, in fact, that they looked past a weaker-than-expected rise in services revenue, the company’s growth driver.

Everyone knows that the global corporate tax system needs to be overhauled, Apple chief executive Tim Cook has said, backing changes to global rules that are under consideration.