Apple Says Apple Says ‘no material impact’ Due To Battery Recall, But Not Sony
Apple Computer just settled a series of patent disputes with Creative Technology by paying the firm $100 million yesterday and just an hour ago announced the recall of 1.8 million laptop-computer batteries! It’s been a tough week for Apple, but for some reason the stock doesn’t reflect that. Shares of Apple (APPL) are actually up nearly 0.75% with the news of the battery recall hitting the media right now. It seems that Sony Corporation (SNE) will be picking up the Dell and Apple tab and is already feeling the impact as they are down just over 3% on the news today.
In other Apple news, it emerged today that the same problem that led Dell to recall 4.1 million laptop-computer batteries last week will cause Apple to recall 1.8 million laptop-computer batteries worldwide. Apple iBook G4 and PowerBook G4 models purchased between October 2003 and August 2006 are affected. Once again, Sony batteries are the culprit. An Apple spokesman told Bloomberg that the recall will have “no material impact” on the company. The Dell and Apple recalls are expected to set Sony back between $170-$257 million in total.
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