Apple to send fix for 1970 date bug; devices can be affected by setting date to May 1970 or earlier

Apple says that a software update is coming to prevent 64-bit iOS devices from getting bricked when the date is set back to May 1970 or earlier
Admitting that the the "1970 date bug" does exist, Apple posted a support document today that tells users of certain iOS devices that "Manually changing the date to May 1970 or earlier can prevent your iOS device from turning on after a restart." First reports had the bug bricking 64-bit Apple iPhones, Apple iPads and Apple iPods when the date was set to January 1st, 1970.
As we pointed out yesterday, letting the battery discharge completely could reset the device. However, those who have done this say that the rebooted device will run slowly.
source: Apple via AppleInsider
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