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Apple has addressed a power consumption issue caused by a paired iPhone and Apple Watch. The bug could reportedly happen when you pair an iPhone or Apple Watch running the original release of iOS 17 and watchOS10 to another device with the iOS 17.1 and watchOS 10.1 betas.
The fixes are included in the third beta releases of iOS 17.1 and watchOS 10.1 (via 9To5Mac):
Fixed: Increased power consumption might occur when an Apple watch running watchOS10.1 is paired with an iPhone with iOS 17.0 (or watchOS10.0 is paired with iOS17.1). (116348186)
This should mean that in case you have already adopted the original iOS 17.0 and watchOS10.0 updates, it is recommended not to pair those devices for now with an iPhone or Apple Watch you are using for beta testing. Thankfully, this can be easily resolved by updating your beta devices with the latest Beta 3 versions of iOS 17.1 and watchOS 10.1.
Apple also released iOS 16.7.1 for iPhones. It applies not only to iPhone 8 and later devices but also to those iPhones that still haven’t updated to iOS 17. The update addresses issues related to the Kernel and WebRTC. According to the company, the problem in the former is an actively exploited vulnerability and could lead to privilege elevation. Meanwhile, Apple shared that the WebRTC issue could lead to arbitrary code execution. With this, updating all compatible devices as soon as possible is suggested.