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Apple Says iPhones Addiction Profitable

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Apple Inc investors on Tuesday shrugged off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits.


Hedge fund JANA Partners LLC and the California State Teachers’ Retirement System (CalSTRS) pension fund said on Saturday that iPhone overuse could be hurting children’s developing brains.


Some investors said the habit-forming nature of gadgets and social media are one reason why companies like Apple, Google parent Alphabet Inc and Facebook Inc added 630 billion dollars to their market value in 2017.


Apple shareholder Ross Gerber, chief executive of Gerber Kawasaki Wealth and Investment Management, said “We invest in things that are addictive.”

He also owns stock in coffee retailer Starbucks Corp, casino operator MGM Resorts International and alcohol maker Constellation Brands Inc.


“Addictive things are very profitable,” Gerber said.


Still, the investment community is increasingly holding companies to higher social standards, and there is some concern that market-leading tech companies could draw attention from regulators much like alcohol, tobacco and gambling companies have in the past.


Alphabet and Facebook could not immediately be reached for comment on Monday. Facebook has said social media can be beneficial if used appropriately.


In a statement to Reuters, Apple said it has offered a range of controls on iPhones since 2008 that allow parents to restrict content, including apps, movies, websites, songs and books, as well as cellular data, password settings and other features.


“Effectively anything a child could download or access online can be easily blocked or restricted by a parent,” Apple said in the statement.


Apple shares fell marginally on Monday. CalSTRS holds 1.9 billion dollars in Apple stock, a sliver of the company’s nearly 900 billion dollars market value, while JANA declined to disclose the size of its smaller stake.


Peter Jones, vice president of research for Ferguson Wellman Capital Management, which has about 350,000 Apple shares,said “Before Apple speaks, I think it’s too early to change the narrative” for investors.


Some said social media companies, not hardware makers, are more deserving of any addiction-related scrutiny.


Jordan Waldrep, who invests in alcohol, tobacco and gambling stocks as manager of the USA Mutuals Vice Fund, said blaming Apple for its customers’ addiction was analogous to blaming makers of cigarette packs instead of tobacco companies.


“The social media, the cigarettes, are the addictive product,” he said. Waldrep’s Vice fund does not own Apple, but Waldrep said he would consider including social media companies.


Kim Forrest, senior portfolio manager and vice president at Fort Pitt Capital Group, agreed that companies like Facebook, Twitter Inc and Snap Inc might be more at risk than Apple if investors and regulators push back on how much time people spend on mobile devices.


“Apple is just the delivery device,” said Forrest, who said Fort Pitt has limited Apple holdings.


“It’s only compelling with software. Software is the dopamine releaser that keeps you coming back.”


Twitter declined to comment and Snap could not immediately be reached.


The letter from JANA and CalSTRS recommends Apple set up a committee of child-development experts and make more new tools available to parents.


In its statement, Apple did not directly respond to the investors’ demands but said changes are in store for its parental controls.


It did not provide details.


Apple said: “We are constantly looking for ways to make our experiences better.


“We have new features and enhancements planned for the future, to add functionality and make these tools even more robust.”


The addiction issue gained notoriety when former Disney child star Selena Gomez said she canceled a 2016 world tour to go to therapy for depression and low self-esteem, feelings she linked to a social media addiction.


Fears about smartphone addiction have already kicked off regulatory backlash.


In December, the French education minister said mobile phones would be banned in schools, and draft legislation in France would require children under 16 to seek parental approval to open a Facebook account.


Even tech insiders are among the vocal critics of social media and its addictive potential.


“Apple Watches, Google Phones, Facebook, Twitter – they’ve gotten so good at getting us to go for another click, another dopamine hit,” said Tony Fadell, a former Apple executive, on Twitter.


John Streur, chief executive of Calvert Research and Management, an Apple shareholder that focuses on social responsibility, said it is plausible that tech devices may some day be understood to hold risks we do not currently understand well.


That would hurt investors if evidence later emerged that companies intentionally built features that create dependency and had evidence that doing so was unsafe.


For the time being, John Carey, a portfolio manager at Amundi Pioneer Asset Management in Boston, said concerns over the human impacts from being glued to screens are not likely to cut into profits.


The company holds Apple stock, but the funds Carey manages do not.


He said:“I doubt there will be any impact on the use of smartphones.


“We’re already addicted to them.”


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NANS Issues Fresh Protest Notice over Telecom Tariff Hike

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National Association of Nigerian Students (NANS) has condemned the recent increase in tariffs by telecommunications companies in Nigeria, threatening to embark on a nationwide protest to compel a reversal.

NANS Issues Fresh Protest Notice over Telecom Tariff Hike

In a statement jointly signed on Thursday in Abuja by Comrade Anzaku Shedrack Ovye, national secretary-general, NANS and Comrade Samson Ajasa Adeyemi, the student body gave the Federal Government and telecommunications companies a 72-hour ultimatum to reverse the tariff increase.

The students warned that upon the expiration of the ultimatum, students across the country would be mobilized for a series of street protests nationwide to ensure a reversal.

They argued that the arbitrary action of telecommunications companies has further exacerbated the financial burden on millions of Nigerians, particularly students and youths, who are among the dominant end-users of their services.

The statement read in part:

“This decision, which has led to a significant rise in the cost of calls, data, and other communication services, is both unjustifiable and insensitive, given the prevailing economic challenges faced by the populace.

“NANS views this development as a blatant disregard for the welfare of Nigerian citizens and an affront to the principles of affordability and accessibility that should govern the telecommunications sector.

“This administration is committed to promoting the welfare of Nigerian students; hence, it will vehemently oppose any tendency that does not align with this vision.

“NANS is deeply concerned about the adverse impact this tariff hike will have on students, many of whom rely heavily on affordable telecommunications services for academic research, virtual learning, and staying connected with their families.

“Therefore, it is worrisome to comprehend the justifications for these increments, as NANS considers this action a direct threat to the security of Nigerian students and an attempt to further impede their ability to navigate their academic endeavors, maintain familial connections, and secure legitimate personal incomes, particularly for independent students responsible for their upkeep.

“We hereby issue a 72-hour ultimatum to telecommunications companies, the Honourable Minister for Innovation, Digital and Blue Economy, Dr. Bosun Tijani, and the Nigerian Communications Commission to reverse this tariff increase and provide a clear roadmap for ensuring affordable telecommunications services for all Nigerians.

“Failure to comply with this ultimatum will leave NANS with no choice but to mobilize students across the nation for a series of peaceful protests to demand justice, accountability, and a comprehensive audit of activities in the telecommunications sector,” NANS stated.

The leadership of NANS maintained that as student representatives, they would not stand idly by while the rights and welfare of Nigerian students, which they have vowed to protect, are trampled upon by greed, “corporate capitalism,” and regulatory complicity.

NANS also called on the Federal Government to intervene promptly and decisively to address this issue.

Additionally, they urged telecommunications companies to prioritize the interests of their customers over profit margins and to engage in meaningful dialogue with stakeholders to find sustainable solutions rather than inflict further hardship on Nigerians who are already struggling economically.

“As the voice of Nigerian students, NANS remains committed to advocating for policies and actions that promote equity, fairness, and the overall well-being of all Nigerians.

“We will continue to hold all parties and duty-bearers accountable to ensure that the rights of students and citizens are protected,” the statement added.


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FG Launches Key Initiatives to Bridge Nigeria’s Digital Divide by 2030

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Federal Government has restated its dedication to closing Nigeria’s digital divide, with a focus on delivering connectivity to underserved and unserved communities.

Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, disclosed this on Thursday during a stakeholders’ engagement session held at the Marriott Hotel, Ikeja, Lagos.

Tijani noted that while significant progress has been made in expanding broadband penetration and strengthening digital infrastructure, millions of Nigerians remain without access to reliable digital opportunities.

He announced several flagship initiatives under the Federal Government’s efforts to bridge the divide. These include Project BRIDGE, a 90,000km fibre optic expansion; Project 774, aimed at connecting every local government secretariat with high-speed internet; and the Universal Access Project, targeted at connecting over 20 million unconnected Nigerians.

Other initiatives, such as the National Broadband Alliance of Nigeria (NBAN) and the 3 Million Technical Talent Programme, were also highlighted.

“The Universal Service Provision Fund (USPF) remains a critical tool in delivering this goal, as it supports infrastructure expansion and inclusive policies,” Tijani said.

He stressed the need for strong public-private partnerships and collaboration with development agencies and local communities to achieve sustainable progress.

Dr. Aminu Maida, Executive Vice-Chairman of the Nigerian Communications Commission (NCC), emphasized the importance of unified efforts to build resilient telecommunication infrastructure.

He revealed that projects funded by the USPF had played a significant role in connecting remote communities.

“We urge stakeholders to strengthen partnerships and explore innovative financing models that will ensure sustainable connectivity,” Maida said.

The engagement session also provided a platform for deliberations on practical strategies for addressing barriers, such as inadequate infrastructure and limited digital literacy, which hinder the achievement of universal connectivity in Nigeria.

The Federal Government reiterated its vision of achieving universal access to communications and digital literacy for all Nigerians by 2030.


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MTN Nigeria, Lagos State Unveil MyLagosApp to Transform Urban Living

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L-R: Chief Digital Officer, MTN Nigeria, A’isha Mumuni; Legendary Nollywood Actress, Joke Silva; Chief Executive Officer, MTN Nigeria, Dr. Karl Toriola; Deputy Governor of Lagos State, Obafemi Hamzat and Chief Information Officer, MTN Nigeria, Shoyinka Shodunke at the launch of MyLagosApp, a one-stop digital hub designed to simplify urban living, held on Thursday, March 13 at MTN Rooftop Plaza, Falomo, Lagos.
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MTN Nigeria, in collaboration with the Lagos State Government, on Thursday launched ‘MyLagosApp,’ a digital platform designed to enhance urban living in Lagos.

L-R: Chief Digital Officer, MTN Nigeria, A’isha Mumuni; Legendary Nollywood Actress, Joke Silva; Chief Executive Officer, MTN Nigeria, Dr. Karl Toriola; Deputy Governor of Lagos State, Obafemi Hamzat and Chief Information Officer, MTN Nigeria, Shoyinka Shodunke at the launch of MyLagosApp, a one-stop digital hub designed to simplify urban living, held on Thursday, March 13 at MTN Rooftop Plaza, Falomo, Lagos.

The application, which serves as a one-stop hub for events, entertainment, transport services, hospitality, and government-related payments, aims to simplify access to essential services for residents and visitors.

At the launch event held in Lagos, the Executive Governor, Mr. Babajide Sanwo-Olu, represented by Deputy Governor Dr. Obafemi Hamzat, lauded the partnership as a milestone in leveraging technology to improve lives.

“This collaboration reflects our administration’s commitment to bridging the gap between public and private sectors, using innovation to provide practical solutions for the people,” Hamzat said.

He described the app as a vital tool for fostering transparency, accountability, and seamless access to public services, noting that it aligns with the state’s smart city initiatives.

MTN Nigeria’s CEO, Dr. Karl Toriola, expressed the company’s pride in partnering with the Lagos State Government to achieve this milestone.

“MyLagosApp is a major stride in digital transformation, marking a significant step in making Lagos a truly smart city. It simplifies connectivity, access to services, and promotes an efficient urban ecosystem,” Toriola said.

The app, developed by MTN’s Software Lab, adheres to global security standards and ISO 27001 certification, according to MTN’s Chief Information Officer, Shoyinka Shodunke.

Stakeholders at the event emphasized the role of the app in advancing mobility, supporting local businesses, and enhancing government-citizen interactions.

The application is now available for download on Android and iOS platforms.


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