Apple sells $2.9 billion in Apple products, but not enough for the AppleCare program
Apple is in a tight spot after a deal to sell off some of its patents to a US company resulted in the Apple Inc. patents being sold off in a massive deal valued at $2 billion.
AppleInsider broke the story Friday, saying the company would sell off the patents for $1 billion and would not sell any of its other products.
But the company didn’t disclose exactly how much it would sell.
Apple is in the midst of a process of restructuring to try to better align its business with those of its rivals.
In a statement Friday, Apple said it is in discussions with the patent owner to “build on the strong synergies we already have, as well as build on existing relationships.”
AppleInsidetoday said the sale of Apple patents is a “positive step for the long-term success of Apple.”