As the world was preparing to usher in 2018, senior executives of Apple, the world’s largest firm by market capitalization, were busy trying to contain a public relations crisis sparked by media reports that the company had slowed down older iPhones in a surreptitious manner.

The tech giant admitted last month that it made some software changes that can slow down older phones, claiming the move was aimed at easing demands on older batteries to prevent the handsets from shutting down suddenly.

A week after the acknowledgement, Apple posted a message on its website last Thursday saying it could have handled the battery issue better and been more forthcoming with its customers.

The company apologized to users and sought to make amends, announcing that it is slashing the price for battery replacement.

iPhone users seemed to have accepted the arrangement, with many people making bookings online to avail of the low-cost battery replacement program.

As a top smartphone player in the world with hundreds of millions of users, Apple has settled the battery crisis much quicker than what some industry experts had anticipated. The firm also surprised the market by offering more transparency on battery life information through the next iOS update.