NEW YORK — Apple’s $99 iPhone 7 phone will come with a cheap, one-year warranty, according to a new study.
The study, which looked at Apple’s warranty contracts for its new iPhone, said the phone will be covered for the next two years if the customer is still using the phone in two years.
It is the first time Apple has offered a phone with such a short warranty.
Read moreAt least one other manufacturer offered similar warranty for its phones.
The company with the most expensive warranty is Samsung, which said its Galaxy S7 phone would be covered by a one-month warranty for three years, for $499.
Apple has been selling iPhones at a discount for years, but the company has been reluctant to increase its prices because of the costs of manufacturing.
Its stock has fallen from a peak of $1,700 in 2016 to $1.17 today.