Apple reaches $133 million settlement over claims it slowed down older iPhones

Apple has reached a $113 million settlement agreement with 34 states and Washington, D.C., over allegations that the company misled consumers about iPhone software updates that purposely slowed iPhones to extend battery life, California Attorney General Xavier Becerra announced Wednesday.

"Apple withheld information about their batteries that slowed down iPhone performance, all while passing it off as an update," Becerra said in a statement. "This type of behavior hurts the pockets of consumers and limits their ability to make informed purchases."