Tag: iphone 14 apple store

  • SECP strikes down 120 illegal personal loan apps

    SECP strikes down 120 illegal personal loan apps

    Securities and Exchange Commission of Pakistan (SECP) has taken measures to protect the public from falling into debt traps of illegal loan apps. Collaborating with Google, Apple and Pakistan Telecommunication Authority (PTA), SECP has succeeded in removal of 120 illegal loan apps that were previously available online.

    The largely ignored scam of illegal personal loan apps came to light recently when last month, a resident of Rawalpindi, died by suicide after being threatened by a lender who gave him loan through one such app. This incident raised serious concerns about misuse of data privacy violations, and coercive recovery practices by the illegal loan apps. The SECP has not only tightened its regulatory framework for licensed Non-Banking Finance Companies (NBFCs) but has also initiated effective steps with the relevant authorities to shut down unauthorized and illegal loan apps.

    SECP has also referred the 120 blocked apps to the FIA for further action in accordance with the Prevention of Electronic Crimes Act of 2016. SECP regularly checks the Google Play Store and the Apple App Store for the presence of any illegal apps.

    Recently Google has introduced Pakistan’s Personal Loan App Policy, according to which Google only allows SECP-approved Personal Loan Apps for placement on its Google Play Store.

    Personal loan borrowers have been advised by SECP to obtain loans only from licensed NBFCs. The SECP’s regulatory framework for approved Apps requires transparent disclosure of fees, loan duration, instalments, and charges. Moreover, SECP has also initiated inspections of licensed NBFCs providing loans through Apps to verify that these are not engaged in miss-selling, breaches of data privacy, or coercive recovery practices etc.

  • Apple facing issues in production of iPhone 14

    Apple facing issues in production of iPhone 14

    The release of the iPhone 14 has been eagerly anticipated by Apple fans worldwide, but according to Apple analyst Ming-Chi Kuo, the flagship has a coating crack quality problem.

    The coating crack, according to the analyst, was intended to be used in the phone’s rear cameras, but since it is defective, the tech company has been having production problems.

    This coating crack issue is posing a risk to the tech giant, since it may delay the shipment of the iPhone 14 lineup, which is scheduled to hit stores this fall. Given how important the problem is, Apple has contracted with a new coating supplier; this time, a Taiwanese company called “Largan” will help the tech giant with the iPhone 14’s camera lenses.

    Ming-Chi Kuo recently tweeted that “Apple had transferred about 10 million lens orders from Genius to Largan to avoid affecting iPhone 14 shipments.” This indicates that the tech giant has stopped purchasing lens coating from “Genius” and will do so permanently if that company can’t resolve its coating crack quality problem.

    While highlighting a different issue with the production of the iPhone 14, Kuo wrote that a variety of panel and memory suppliers are experiencing component shortages.

    Despite this, Kuo claimed that the issue will be easily resolved because Apple has brought in a large number of suppliers to fill the component gap.

    “I have learned that recently some iPhone 14 panel and memory suppliers have experienced supply issues”, however indicating little to no impact he added that “other suppliers can fill the supply gap.”

    Apple is doing everything it can to keep up with demand, manufacture, and deliver the iPhone 14 by the projected date despite a number of production issues. Once available, the iPhone 14 is anticipated to outsell the iPhone 13 and surpass its all-time high revenue of $448 billion.