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Published 17:34 19 Nov 2020 GMT
Updated 17:35 19 Nov 2020 GMT
Those who brought the lawsuit to the courts disagreed, claiming that Apple deliberately slowed down iPhones to encourage upgrades and the sale of newer models.
Apple eventually accepted the settlement and agreed to replace old batteries at a heavily-discounted price.
They also apologised for slowing down old iPhones.
The settlement may sound enormous, but it's worth bearing in mind that Apple boasts an annual revenue of $275 billion - or £208 billion pounds.
This isn't the first time the company has been brought to task over alleged iPhone slowing.
In February of this year, a French court fined the tech giant $27 million - £20.5 million. Apple were hit with the fine in relation to "deceptive commercial practices by omission".
The French court also stated that the company should have informed iPhone users that their models were being slowed down through a new software update.Amazon Fire TV Stick drops to ‘cheapest ever’ price in early Prime Day deal
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