Apple Axes iPhone 4 Restocking Fees

Apple has announced that it has axed the restocking fee users have to pay to return their iPhone 4.

The company has decided not to charge users the restocking fee of $20 for the 16GB iPhone 4 or the $30 for the 32GB version, in response to an increase in returns due to reception issues with the smartphone.

In order to be exempt from the charges, users must return their phones within 30 days of purchasing the device.

Apple's recently launched iPhone 4 has been plagued with software and hardware problems, the most prominent being the antenna issues that affect the phone reception when held in the left hand.

In a letter addressed to iPhone 4 users, the company said that the problem related to software and not hardware.

Apple stated that the algorithm the company used to display the signal bars was wrong, displaying more bars than it should, and has been so in all previous iPhone versions.

Despite the emergence of this and other issues, the company maintains that the device has been well received by customers, and insists that those affected with reception problems are most likely to live in areas with poor reception.