Apple stock closed at $146.10. At close: October 4 04:00PM EDT
Since the European Union has unanimously approved a reform requiring tech businesses to use the charging standard in what it claims will reduce costs and electronic waste, Apple ( NASDAQ:AAPL ) and other consumer electronics companies will be compelled to use a USB-C charging connection for their gadgets.
The legislation, which was approved on Tuesday, is anticipated to help the EU eliminate 11,000 tons of electronic waste annually and save consumers $250 million, or 250 million euros, on what the bloc called “unnecessary charger purchases.”
According to the change, laptops will be exempt from this need until 2026, while all mobile phones, tablets, and cameras marketed in the EU must enable USB-C charging. The law also applies to other consumer electronics, such as e-readers, handheld video game consoles, headphones, and more.
Samsung ( OTCPK:SSNLF ) and other device manufacturers may also be impacted due to the broad range of consumer electronics being touched.
The report’s author, Alex Agius Saliba, said in a statement that “we have waited more than ten years for these guidelines, but we can finally leave the current variety of fees in the past.” “This future-proof regulation enables the development of cutting-edge charging methods in the future, and it will benefit everyone – from disgruntled consumers to our vulnerable environment,” says the author.
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