According to a person familiar with Apple Inc.’s (AAPL.O) vice president of services, Peter Stern, the executive has notified subordinates that he is leaving the organisation.
Stern, who relocated from Time Warner Cable to the iPhone producer in 2016, will quit at the end of the month, the article said. A request for clarification from Reuters was not clearly returned by Apple.
Stern, a well-known media executive, supervised the development of Apple’s firms based on membership subscriptions, especially its television service, Apple TV+.
The services division, which Apple is working on as it attempts to expand its sources of income apart from the marketing of products, includes News+, Fitness+, and iCloud+, among several other premium services.
In the final quarter that finished in September, the division made $19.19 billion, a growth of 5% from the preceding year.
According to the Insider source, Apple is restructuring its services division, and Stern’s tasks will be broken down into three different sections.
A price increase for those out-of-iPhone replacement batteries for all versions earlier than that of the iPhone 14 was disclosed by Apple earlier this month.
On average, Apple costs $69 to change the battery in an iPhone, according to a calculator on the firm’s site.
The rate increase will apply to consumers who do not possess AppleCare or AppleCare+ packages for their iPhones.
Apple Inc. is a global American technology firm with headquarters in Cupertino, California. Apple is the world’s biggest firm by market valuation as of June 2022, the fourth-largest microcomputer provider by sales volume, the second-largest maker of smartphones, and the leading technology business by earnings (totalling US$365.8 billion in 2021). Together with Alphabet (Google), Amazon, Meta (Facebook), and Microsoft, it ranks among the Big Five American information technology corporations.