Market Overview

Apple Recalls 233,000 Beats Speakers, Cites Fire Hazard


Apple Inc. (NASDAQ: AAPL) voluntarily recalled about 233,000 Beats Pill XL portable, wireless speakers on Wednesday, saying they pose a risk of catching on fire.

The Cupertino, California hardware maker has received eight reports of the speakers overheating.

Apple traded recently at $130.75, up $0.79.

One case of overheating involved a burn to a customer's finger. In another, the speaker damaged a desk, according to the U.S. Consumer Products Safety Commission.

Apple said the recall doesn't affect other Beats or Apple products.

Apple paid $3 billion about a year ago to acquire Beats, including its subscription streaming music service as well as Beats Electronics, which makes headphones, speakers and audio software.

The recalled speakers, introduced in 2013, were sold through Apple retail stores and major retail stores nationwide and online at and from January 2014 through June 2015 for about $300.

Apple said customer safety is "the company's top priority" and said it would issue refunds of $325 in the form of Apple store credit or electronic payments.

The company recalled 28,000 Powerbook computer batteries because of fire hazard in 2004 and 128,000 of the batteries in 2005.

Posted-In: Beats Beats MusicNews Tech


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