Jan. 8, 2018 (AP) -- Two major Apple investors have urged the iPhone maker to take action to curb growing smartphone addiction among children, highlighting growing concern about the effects of gadgets and social media on youngsters.
New York-based Jana Partners LLC and the California State Teachers' Retirement System, or CalSTRS, said Monday in open letter to Apple that the company must offer more choices and tools to help children fight addiction to its devices.
"There is a developing consensus around the world including Silicon Valley that the potential long-term consequences of new technologies need to be factored in at the outset, and no company can outsource that responsibility," the letter said. "Apple can play a defining role in signaling to the industry that paying special attention to the health and development of the next generation is both good business and the right thing to do."
The two investors collectively control $2 billion worth of Apple shares.