Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Biden administration decides not to overturn ITC's ban on Apple Watches

Published 26/12/2023, 10:32 pm
© Reuters

The Biden administration has opted not to overturn the U.S. International Trade Commission's (ITC) ruling banning imports of Apple (NASDAQ:AAPL) Watches using contested blood-oxygen level reading technology.

Effective December 26, the ban arises from a complaint by medical tech firm Masimo (NASDAQ:MASI), alleging Apple (AAPL) unlawfully incorporated its pulse oximetry tech into the Apple Watch.

"After careful consultations, Ambassador Katherine Tai decided not to reverse the ITC’s determination and the ITC's decision became final on December 26, 2023," the agency said in its decision.

Masimo, besides facing a mistrial in its California federal court case against Apple, is counter-sued by Apple for patent infringement.

The ban coincides with Apple's decision to halt sales of its Series 9 and Ultra 2 smartwatches, affecting its lucrative wearables business, which amassed $8.28 billion in Q3 2023.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.