Did Apple slow down their old iPhones?

Really interesting regulation story here emanating from France, where the authorities have fined Apple for not providing consumers with information that they 'slowed down' old iPhones.

Apple claim that this is to protect the phone's components, but critics suspect that it is done to encourage people to upgrade their phones.

I wonder whether other EU member states will follow suit, and it's also an example of how asymmetric information reduces market efficiency.

The cynic might do a quick back of the envelope calculation to express the size of this fine against their annual profits or market capitalisation!