Jana Partners and the California State Teachers’ Retirement System, Apple Inc's shareholders are urging the smartphone maker to address the growing problem of addiction of the youth to iPhones.
According to a report by Reuters, Jana and CalSTRS, one of the public pension plans, who together control about $2 billion worth of Apple shares, has recently delivered a letter to Apple on January 6, which asks the company to consider developing software that would allow parents to control and regulate their childrens phone use. They have also asked Apple to study the impact of excessive phone use on mental health. The investors are reportedly worried that Apple’s reputation and the stock could be hurt if it does not address those concerns.
This comes after the issue of phone addiction among young people has been on the rise in the United States as parents report their children cannot give up their phones.