Should you be concerned about smartphone addiction?
Two heavyweight investors say Apple should do more to combat iPhone addiction among young people.
California State Teachers’ Retirement System and Jana Partners — two major funds that own about $2 billion in Apple (AAPL) stock between them — are pressuring the tech giant to take a stronger stance on the mental health effects of excessive smartphone use by children and teenagers.
The investors pointed to a number of studies highlighting the detrimental effects of smartphone addiction. They include being less attentive in class, insufficient sleep and a higher risk of depression and suicide.
In an open letter posted online this weekend, the two shareholders called on Apple to set “an example about the obligations of technology companies to their youngest customers.” They want the company to add more sophisticated parental controls to its devices limit the time children can spend on them and what content they can access.