Reportedly, Apple (NASDAQ:AAPL) has decided to halt its efforts in developing display screens for its smartwatch. As per a recent Bloomberg report, the tech giant has ceased an internal project aimed at crafting screens utilizing microLED technology.
Sources suggest that Apple is now in the process of reorganizing its display engineering teams, along with cutting off numerous positions across the United States and Asia. Despite these developments, Apple has refrained from providing an immediate comment on the matter.
The display endeavor was purportedly a component of Apple's broader strategy to internalize more of its technological development.
Furthermore, Apple is expected to introduce fresh iPad Pro models equipped with OLED displays sourced from Samsung (KS:005930) and LG.
On a different note, Apple finds itself entangled in legal proceedings, with the US Justice Department and 16 states accusing the tech giant of employing exclusionary business tactics to maintain its iPhone's market dominance.
The lawsuit alleges that Apple exploits its monopoly position to uphold elevated prices for consumers.
With a substantial 65 percent share in the US market, Apple's iPhone stands as a dominant force, contributing significantly to the company's remarkable financial success, alongside its other product offerings.
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