Apple plans iPhone 4 announcement on Friday

By Stacy Cowley, tech editor


NEW YORK (CNNMoney.com) -- Two weeks after a "stunned" Apple announced to the world that it had found a major software glitch in the iPhone's signal-strength display, Apple plans to hold a press conference to discuss the iPhone 4.

The gathering will take place Friday at Apple's Cupertino headquarters. An Apple spokesman declined to divulge any further details of the event.

Apple (AAPL, Fortune 500) on Thursday released its promised software fix to address the way iPhones display the bars used to visualize signal strength. Early tests indicate that the new software more accurately reflects network strength.

But Apple's headaches continue mounting: On Monday, Consumer Reports' product testers issued a damning report concluding that the iPhone 4 has a hardware design flaw that can cause calls to drop. There's an easy fix -- put the phone in a case or cover the gap between the phone's two antennas with a bit of duct tape -- but Consumer Reports said it would not recommend the phone until Apple released a free solution for the problem.

Apple has refused to comment on Consumer Reports' findings, and has previously denied that the iPhone 4 has any hardware flaws. CEO Steve Jobs' now-famous response to a customer complaint that holding the phone the wrong way could interrupt reception was "just avoid holding it in that way."

The iPhone 4 was Apple's most successful product launch in its history. The company sold 1.7 million phones in just the first three days, and the device remains sold out through most retailers. Even as it slapped the phone with a "not recommended" label, Consumer Reports said that the iPhone 4 was, aside from its antenna defect, the best smart phone on the market.

-CNN's Augie Martin contributed to this report. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,116.84 142.53 0.84%
Nasdaq 4,542.96 -6.27 -0.14%
S&P 500 1,986.70 4.40 0.22%
Treasuries 2.29 -0.03 -1.33%
Data as of 12:07pm ET
Company Price Change % Change
Facebook Inc 73.93 -1.93 -2.54%
Bank of America Corp... 16.98 -0.01 -0.08%
Intel Corp 32.87 -1.05 -3.08%
Avon Products Inc 10.15 -0.81 -7.39%
Apple Inc 106.40 -0.94 -0.88%
Data as of 11:52am ET

Sections

Shares of Keurig Green Mountain are riding a caffeine high this year. Will Coke, which already owns a big stake in Keurig, buy the rest? More

Apple CEO Tim Cook writes column in which he announces that he's gay: "I consider being gay among the greatest gifts God has given me." More

San Francisco-based Tumml is an accelerator fostering 'urban impact start-ups' that aim to tackle civic problems -- and turn a profit. More

Amy Kukec thought leaving her abusive husband would be the beginning of a new life, but so far she's hit one debilitating financial roadblock after another. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.