Apple Inc. share price down, withdraws latest iOS update after customer complaints

Apple Inc. withdrew its latest update for the iOS operating system as the new software was reported to have caused problems that resulted in some customers losing cellular service. According to some users, the fingerprint reading Touch ID feature was also not working properly after the software update.

The U.S.-based tech giant apologized for the inconvenience and pulled back the iOS 8.0.1 update. According to Apples statement, the iOS 8 version, which was released last week, can still be used by customers.

The withdrawal of the software follows customers reports for some problems that have appeared after the update. The upgrade of the software to its latest version was supposed to fix software glitches and a bug in its new HealthKit platform so that related apps could become available on the App Store. The iOS 8 software was reported to have caused applications developed by companies such as Facebook Inc. and Dropbox Inc. to crash more frequently.

In addition, apart from the headwinds related to the operating systems update problems, some owners of the iPhone 6 Plus smartphone, which is currently the largest and most expensive model offered by Apple, complained that their device was bent accidentally after they sat with the phone in their pants pocket.

The company confirmed that the latest update of its iOS software has been withdrawn but refused to reveal the number of customers, who have initially downloaded and installed after the release.

As reported by Bloomberg, one of Apples spokeswomen – Ms. Trudy Muller said in the companys statement: “We are actively investigating these reports and will provide information as quickly as we can. In the meantime, we have pulled back the iOS 8.0.1 update.”

The piling issues are quite problematic and embarrassing for the company at a time when it has been seeking to sell a record number of phones and overshadow its competitors.

“We apologize for the great inconvenience experienced by users, and are working around the clock to prepare iOS 8.0.2 with a fix for the issue,” Apple said on Wednesday in a statement, which was cited by the Financial Times. The company shared that it is working in order to fix the problem “in the next few days.”

Apple Inc. fell by 0.87% yesterday to close at $101.75 per share, marking a one-year change of +45.62%. The company is valued at $614.59 billion. According to CNN Money, the 42 analysts offering 12-month price forecasts for Apple Inc. have a median target of $110.00, with a high estimate of $135.00 and a low estimate of $60.00. The median estimate represents a +8.11% increase from the last price of $101.75.