Slashing replacement battery cost could tank iPhone sales

Apple's offer to replace old iPhone batteries at a steep discount — for $29 instead of $79 — could cause sales of new phones to drop by millions of units, Barclays analyst Mark Moskowitz told Bloomberg.

The backdrop: Apple made the conciliatory move to replace old iPhone batteries at a discounted price after the tech giant admitted to — and faced backlash for — slowing down some old iPhones.