| Cult of Mac

Citigroup reportedly pulled out on Apple Card deal


Apple Card
Apple Card might be the most consumer-friendly credit card ever.
Photo: Apple

One of Goldman Sachs’ biggest rivals pulled out on a deal that would have made it the bank backing Apple Card.

Citigroup reportedly was in advanced negotiations with Apple but pulled out of the Apple Card deal due to doubts that it will be profitable.

iPhone 5S To Launch This September, Alongside New Low-Cost iPhone [Analyst]



Tim Cook suggested during Apple’s earnings call earlier this week that the Cupertino company wouldn’t be announcing any new products until later this year. So it’s no surprise to see that analysts from Citigroup are now reporting that the iPhone 5S will be available in early September, alongside a new low-cost iPhone for emerging markets.

Apple Cuts iPhone 5 Component Orders As Sales Fail To Meet Expectations [Report]


Photo: CBS Interactive

The Wall Street Journal reports that Apple has recently cut component orders for the iPhone 5 due to weaker-than-expected demand. The device enjoyed a successful start when it launched in September 2012, quickly becoming the Cupertino company’s fastest-selling iPhone. It appears, however, that sales since then haven’t quite been what Apple was originally expecting.