Apple iPhone warranty repair fraud in China cost Apple billions of dollars

According to a report in The Information that was published today, Apple lost billions of dollars thanks to a warranty fraud that is still ...

According to a report in The Information that was published today, Apple lost billions of dollars thanks to a warranty fraud that is still taking place in China. It begins with the purchase or theft of numerous iPhone units, which then have important parts ripped out of them. Components like the CPU, circuit boards and screens are replaced with phony parts and even chewing gum wrappers. These phones are then returned to the Apple Store, and replaced under warranty. The replacements are then sold.

In 2013, Apple discovered that it could estimate how many returns were ...

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