Apple says it looks out for kids, as investors cite phone ‘addiction’
Apple Inc said it “has always looked out for kids”, defending its technology policy for children, after two major investors urged it to address what they said was a growing problem of young people getting addicted to Apple’s iPhones.
Shareholders Jana Partners, a leading activist shareholder, and California teacher pension investor CalSTRS, one of the nation’s largest public pension plans, delivered a letter to Apple on Saturday asking the company to consider developing software that would allow parents more options to limit children’s phone use.
The issue of phone addiction among young people has become a growing concern in the United States as parents report their children cannot give up their phones. CalSTRS and Jana worry that “even” Apple’s reputation could be hurt if it does not address those concerns. Their letter was originally reported by the Wall Street Journal.