Apple to release fix for iPhone 14 Pro's shaking camera next week

Apple is working on a software update for the iPhone 14 Pro and Pro Max aimed at fixing a bug that makes the rear camera on the device physically shake when used with some third-party apps.

The update will be released next week, according to the company, signalling it has already identified a solution. The software fix would mark at least the second so far for the iPhone 14. On launch day, users were asked to update to iOS 16.0.1 to address a problem related to activating FaceTime.

The latest iPhones went on sale last Friday, and some users complained on social media about the camera bug.

The issue, which also can cause rattling noises, is the result of the optical image stabilisation hardware malfunctioning in some cases with third-party apps. The stabilisation technology is designed to shift the camera system to compensate for the iPhone moving, helping to prevent a blurry picture.

Users have complained about the bug hindering camera features in social media apps like Snapchat, TikTok, Instagram and Facebook, but it doesn’t appear to affect Apple’s pre-installed camera capabilities.

Snap, the maker of Snapchat, said on Monday that it was “working directly with Apple” to address the issue after getting reports from users. TikTok and Meta Platforms, the owner of Instagram and Facebook, did not immediately respond to requests for comment.

The new camera system on the iPhone 14 Pro, which includes a 48-megapixel sensor for the main lens for the first time, is one of the main upgrades for this year’s device.

The phone also has a software interface at the top of the device known as the Dynamic Island, which works with an updated camera cut-out to show information such as map directions or AirPods status.

So far, the iPhone 14 Pro and iPhone 14 Pro Max appear to be biggest hits in the line-up. Shoppers queued at Apple retail stores in search of the devices at the weekend, and they sold out in many places.

Consumers looking to buy the models through Apple’s website will have to wait until at least October for deliveries.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

JAPANESE GRAND PRIX INFO

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First practice: Friday, 5-6.30am
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Apple to release fix for iPhone 14 Pro's shaking camera next week

Company aims to fix a bug that makes the device's rear camera physically move when used with third-party apps

JAPANESE GRAND PRIX INFO

The specs