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Apple should address youth phone addiction, say two large investors

Reuters  |  NEW YORK 

By Elizabeth Dilts

NEW YORK (Reuters) - Inc shareholders and the California State Teachers' Retirement System are urging the maker to take steps to address what they say is a growing problem of young people getting addicted to Apple's iPhones, Jana partner Charles Penner said.

Jana, a leading activist shareholder, and CalSTRS, one of the nation's largest public pension plans, delivered a letter to on Saturday asking the company to consider developing software that would allow parents to limit children's phone use, reported on Sunday.

Jana and CalSTRS also asked to study the impact of excessive phone use on mental health, according to the publication.

CalSTRS did not respond to a request for comment. In a statement, said that since 2008 the iPhone's software has allowed parents to control which apps, movies, games and other content children can access.

"We think deeply about how our products are used and the impact they have on users and the people around them," said in the statement. "We take this responsibility very seriously and we are committed to meeting and exceeding our customers' expectations, especially when it comes to protecting kids."

Jana and CalSTRS together control about $2 billion worth of shares, reports.

The social rights issue is a new turn for Jana, which is known for pushing companies it invests in to make financial changes.

However, the issue of phone addiction among young people has become a growing concern in the as parents report their children cannot give up their phones. CalSTRS and Jana worry that Apple's reputation and stock could be hurt if it does not address those concerns, according to

Half of teenagers in the feel like they are addicted to their mobile phones and report feeling pressure to immediately respond to phone messages, according to a 2016 survey of children and their parents by

The phone addiction issue got a high-profile boost from the former child star Selena Gomez, 24, who said she canceled a 2016 world tour to go to and low self-esteem, feelings she linked to her addiction to and the mobile photo-sharing app

(Reporting by Elizabeth Dilts; Editing by Lisa Shumaker)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 06:47 IST