(Reuters) — Apple shareholders Jana Partners and the California State Teachers’ Retirement System are urging the smartphone maker to take steps to handle what they are saying is a rising downside of younger folks getting hooked on Apple’s iPhones, Jana companion Charles Penner stated.
Jana, a number one activist shareholder, and CalSTRS, one of many nation’s largest public pension plans, delivered a letter to Apple on Saturday asking the corporate to contemplate growing software program that might enable mother and father to restrict kids’s cellphone use, the Wall Street Journal reported earlier on Sunday.
Jana and CalSTRS additionally requested Apple to review the affect of extreme cellphone use on psychological well being, in accordance with the publication.
CalSTRS and Apple didn’t instantly reply to requests for remark.
Jana and CalSTRS collectively management about $2 billion value of Apple shares, the Journal stories.
The social rights difficulty is a brand new flip for Jana, which is understood for pushing firms it invests in to make monetary adjustments.
However, the difficulty of cellphone dependancy amongst younger folks has grow to be a rising concern within the United States as mother and father report their kids can not quit their telephones. CalSTRS and Jana fear that Apple’s popularity and inventory could possibly be harm if it doesn’t deal with these issues, in accordance with the Journal.
Half of youngsters within the United States really feel like they’re hooked on their cell phones and report feeling stress to instantly reply to cellphone messages, in accordance with a 2016 survey of kids and their mother and father by Common Sense Media.
The cellphone dependancy difficulty bought a high-profile enhance from the previous Disney little one star Selena Gomez, 24, who stated she canceled a 2016 world tour to go to remedy for despair and low vanity, emotions she linked to her dependancy to social media and the cellular photo-sharing app Instagram.
(Reporting by Elizabeth Dilts; Editing by Lisa Shumaker)
This article sources info from VentureBeat