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Apple could pay up to $500 million in the US over slowed down iPhones.

Apple has agreed to a preliminary settlement to a class-action lawsuit that alleged the company slowed down iPhones when their batteries degraded, Reuters reports.

If the settlement is approved by a San Jose district judge, it will require Apple to pay consumers $25 per eligible iPhone, with a minimum payout of $310 million. The per-device payment amount may vary depending on how many iPhones are eligible.

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