Good morning! Here is the tech news you need to know this Tuesday.
1. Apple could release a supersized follow-up to the iPhone X later this year, alongside two devices to succeed the iPhone 8 and iPhone 8 Plus. The jumbo-sized phone will be the priciest, and is intended to appeal to people who like “phablets,” according to Bloomberg.
2. Fitbit’s stock plunged after missing on its Q4 revenue, posting $570.8 million (£408 million) and a net loss of $46 million (£33 million), according to ZDNet. The smartwatch maker has to fend off tough competition from the likes of Apple.
3. Apple has confirmed it is a Google cloud customer. The confirmation came from a publically available document, the iOS Security Guide.
4. Facebook has settled a damaging class-action lawsuit for $35 million (£25 million), a fraction of its overall value. The lawsuit had earlier revealed that a distraught Mark Zuckerberg sent panicked texts to his wife Priscilla Chan ahead of Facebook’s IPO and almost cancelled the float.
5. Intel didn’t inform US cybersecurity officials about its serious Spectre and Meltdown chip flaws before details were leaked to the press, according to the BBC. Alphabet, which discovered the flaws and disclosed them to Intel, said it had left it up to the company to decide whether to tell government officials.
6. The self-proclaimed inventor of bitcoin, Craig Wright, has been sued for allegedly stealing $5 billion in bitcoin from his former business partner Dave Kleiman. According to court filings, Wright forged and backdated documents after Kleiman’s death in relation to a joint bitcoin mining venture.
7. Apple is now facing more than 60 class action lawsuits over its failure to tell customers about slowing down iPhones with older batteries. It’s likely the lawsuits will consolidate into one action.
8. Instagram rival Vero, created by Lebanese billionaire Ayman Hariri, has suddenly become the most popular app in the US App Store, according to Mashable. Users are switching to the app because it’s free of ads, and out of frustration at an Instagram algorithm change.
9. BGF Ventures, the £200 million UK venture arm of Business Growth Fund, is losing 3 partners as part of a restructure. Harry Briggs, Rory Stirling, and Wendy Tan White will all leave the firm.
10. Fintech firm Circle has acquired cryptocurrency exchange Poloniex for a reported $400 million (£286 million). Circle counts Goldman Sachs as a strategic backer.