EU's Latest Proposal Could Mean Setback For Apple: Report - Apple (NASDAQ:AAPL)

The EU's proposal for a standard charging port for mobile phones, tablets, and headphones could prove to be a massive setback for Apple Inc (NASDAQ:AAPL) versus its peers, Reuters reports.
The EU proposed a USB-C connector as the standard port for all smartphones, tablets, cameras, headphones, portable speakers and handheld video games consoles.
iPhone and Android users have long complained about different phone chargers.
The EU defended its stance, citing failure to reach a consensus despite a decade of talks, which have reduced the number of mobile phone chargers to three from 30.
The move has been over 10 years in the making, claiming environmental benefits and $293 million in annual savings for users.
Apple pushed back against the proposal.
The EU member states and EU lawmakers need to ratify the proposal, following which companies will have two years to adapt their devices.
AAPL Price Action: Apple shares traded higher by 0.52% at $146.60 midday Thursday.

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