If you received a refurbished iPhone or iPad between now and July 2012, Apple might owe you money. The company has reportedly agreed to settle a class-action lawsuit over refurbished products and will pay out roughly $95 million to customers.

From what we understand, customers in the United States who received a replacement device through the AppleCare Protection Plan or AppleCare+ could be eligible for a settlement sum.

The class-action lawsuit covers Apple customers who "purchased an AppleCare Protection Plan or AppleCare+ for an iPhone or iPad, either directly or through the iPhone Upgrade Program, on or after July 20, 2012, and received a remanufactured replacement iPhone or iPad." This is only for those who received a remanufactured or refurbished device instead of a new phone.

Apple's terms and conditions state users will get devices repaired or a replacement device that is "either new or equivalent to new in device performance and reliability." According to the lawsuit, the problem is that Apple reportedly used repaired parts instead of new parts in those devices.

After a long debate, Apple agreed to a sum of $95 million to settle the suit, and the group running the lawsuit asked the court to accept this offer. So what does that mean for you? Well, we're not sure, as it's yet to be decided when or how Apple will pay out the settlement. Most likely, there are millions of owners in the suit, and most device owners will probably only receive some pocket change.

If you think you should be included in the lawsuit or have owned an Apple device that meets the requirements, you can learn more from the Replacement Device Lawsuit website.

In the end, this is a big win for the lawyers, who will take a large chunk of the money. That said, moving forward, Apple must supply brand new parts on repairs and ensure an improved experience and top performance. We'll keep an eye out for more details and report back once we know more.

via Gizmodo