Apple has agreed to pay a settlement of up to $500 million, following a lawsuit accusing the company of intentionally slowing down the performance of older iPhones to encourage customers to buy newer models or fresh batteries.

Apple would potentially pay consumers $25 per phone, as reported by Reuters.

Apple however, denied wrongdoing in the case and said it was only agreeing to avoid the cost and burden associated with the lawsuit.

Apple CEO Tim Cook.

Customers who bought older iPhones complained that phone performance drastically slowed after installing newer software updates, and contend that this was caused intentionally by Apple.

Any. owner of the iPhone 6, 6 Plus, 6s, 6s Plus, 7 Plus or SE in the U.S. that ran on iOS 10.2.1 (or later) are covered by the settlement.

Users of the iPhone 7 and 7 Plus which ran iOS 11.2 or later before Dec. 21, 2017 are also covered by the settlement.