White House Declines To Overturn Apple Watch Ban: Analyst Estimates Impact At $300M Or More

The White House decided Tuesday to uphold the sales ban on Apple Inc's AAPL smartwatches.

What Happened: In October, the U.S. International Trade Commision determined that Apple was in violation of two health technology patents held by Masimo Corp. related to blood-oxygen sensors. 

The White House had 60 days to review the import ban that was slapped on Apple Watches as a result of the violation. According to a Bloomberg report, U.S. trade representative Katherine Tai declined to overturn the ban this week.

"After careful consultations, Ambassador Tai decided not to reverse the ITC’s determination and the ITC’s decision became final on December 26, 2023," Tai's office said in a statement on Tuesday.

Check This Out: Apple Vision Pro Could Hit Shelves In Late January Or Early February, Says Ming-Chi Kuo

Apple removed certain models of the Apple Watch (Series 9 and Ultra 2) that were in potential violation of the Masimo patents from its stores ahead of the decision. The company's cheaper Watch model, the Apple Watch SE, reportedly remains on sale.

The report indicates that analysts estimate that Apple's watch business generated approximately $17 billion in revenues over the last year. Wedbush analyst Dan Ives recently said the new bans could cost Apple between $300 million and $400 million in potential holiday sales.

Related Link: Apple's Ban On Smartwatches Could Result In Sales Loss Exceeding $300-$400M, Says Dan Ives: 'Couldn't Have Come At A Worse Possible Time'

AAPL Price Action: Apple shares were down 0.18% at $193.26 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Apple.