Apple Inc. (AAPL) has been on a whirlwind ride this past week, with a mix of news that has sent shockwaves through the tech world. From abandoning its self-driving car project to revealing a secret partnership with Chinese EV manufacturer BYD, and finally, achieving record-breaking iPhone sales, Apple has been making headlines for all the right (and some unexpected) reasons. Let’s delve into the details of these captivating stories.
Apple Abandons Autonomous Vehicle Project
In a surprising turn of events, Apple has officially terminated its self-driving vehicle testing permit in California, marking the official end of its long-held electric vehicle ambitions. This decision follows earlier reports suggesting Apple’s retreat from the electric vehicle market after a decade of dedicated efforts. The California Department of Motor Vehicles confirmed that Apple requested the cancellation on Sept. 25, with the permit officially ending on Sept. 27.
Apple’s Secret Partnership with BYD
Adding another layer of intrigue to Apple’s automotive aspirations, reports surfaced revealing a secret partnership between Apple and BYD, a prominent Chinese electric vehicle manufacturer. This collaboration, initiated in 2017, focused on developing a cutting-edge battery system utilizing lithium iron phosphate cells. While Apple does not claim ownership of any technology used in BYD’s current Blade batteries, the partnership demonstrates Apple’s continued commitment to producing a car, even if it’s taking a less direct approach.
Record-Breaking iPhone Sales
Amidst the automotive news, Apple celebrated a major victory in the smartphone market. During the third quarter of 2024, Apple set a new sales record for its iPhone, coinciding with a broader recovery in the global smartphone market. According to Canalys, Apple’s iPhone sales were narrowly edged out by Samsung Electronics Co. Ltd., with both tech giants capturing an 18% market share. This impressive achievement underscores the enduring popularity of Apple’s flagship product.
Apple’s Low-Cost Vision Pro
Looking beyond smartphones, Apple is reportedly intensifying its efforts to compete with Meta Platforms Inc. in the burgeoning mixed-reality space. The tech giant is working on a discounted version of its first-generation mixed-reality headset, Vision Pro, with a potential release date as early as next year. Reports suggest that Apple’s Vision Pro team is actively developing at least four new devices aimed at addressing current criticisms and expanding the headset’s appeal.
Apple’s Inventory Shortage
While Apple is celebrating record iPhone sales, the company is also facing a shortage in inventory for several of its products. This has led to speculation about the imminent launch of new models. Retail inventory for various Apple products, including iMacs, MacBook Pros, Mac minis, iPad minis, and their accessories, is reportedly running low. Such inventory shortages are often a telltale sign that a company is preparing to introduce updated versions of its products.
Apple’s rollercoaster week highlights the dynamic nature of the tech industry. While the company is experiencing successes with its flagship iPhone and exploring new territories in the automotive and mixed-reality realms, it is also facing challenges in maintaining product inventory. These developments suggest that Apple is actively navigating the complex landscape of technological innovation and market demands.
