Apple offers $29 iPhone battery replacements

(Apple)iPhone 6 users will not get the chance to replace their old batteries at a lower price point.

After admitting to the public that it had deliberately slowed down older iPhone models to compensate for the devices' aging batteries, Apple is now offering replacements at a more affordable price point.

According to a CNet report, the tech giant is offering $29 battery replacements for older iPhone models that were affected by Apple's move of slowing down older handsets. With the replacement batteries, the speed and performance of older models will be restored, Apple confirmed. The original price of the batteries stood at $79, the report added.

"We expected to need more time to be ready, but we are happy to offer our customers the lower pricing right away," said Apple said in a statement to TheVerge. The company clarified, however, that the first wave of batteries may not be enough to meet all the supply demands. "Initial supplies of some replacement batteries may be limited," Apple added.

Apple's decision to offer replacement batteries come in the wake not only of their admission of slowing down the devices but also after facing a number of lawsuits from iPhone users. To their defense, the company released a statement explaining their move.

"Lithium-ion batteries become less capable of supplying peak current demands when in cold conditions, have a low battery charge or as they age over time, which can result in the device unexpectedly shutting down to protect its electronic components," explained Apple.

Meanwhile, TechCrunch noted that some of the company's stiffest competitors like Samsung, LG, Motorola, and HTC took advantage of Apple's predicament. The rivals released their own statements stressing that they did not slow down the performance of some of their older smartphones to compensate for battery life.

With Apple offering replacement batteries at cheaper prices, it can be expected that users of older iPhone models will take advantage of the offer. In turn, Apple should ramp up its production of the batteries to meet a potential spike in demand in the coming weeks.