- The European Union is expected to fine Apple about 500 million euros for alleged breaches of EU competition law.
- Last year, the European Commission accused Apple of distorting competition in the music streaming market through its App Store rules.
- Both the European Commission and Apple declined to comment on the Financial Times report.
The European Union (EU) is reportedly set to impose a hefty fine of 500 million euros on tech giant Apple for alleged breaches of competition laws. The European Commission, the EU’s antitrust authority, is expected to announce the fine in the coming weeks after a lengthy investigation into Apple’s business practices.
The investigation focused on Apple’s App Store and its rules and fees for app developers. The EU’s competition watchdog expressed concerns that Apple’s strict guidelines and fees for developers may have put the company at an unfair advantage over its competitors.
If confirmed, this fine would mark another significant blow to Apple’s reputation in Europe, where the company has faced increasing scrutiny over its market dominance. The EU has previously fined the tech giant for its tax practices in Ireland and is currently investigating its potential anti-competitive behavior in the music streaming market.
Apple has denied any wrongdoing and has vowed to appeal any decision made by the EU. The company has argued that its App Store guidelines are designed to ensure the safety and quality of apps for its users, and that it treats all developers fairly and equally.
The fine is likely to reignite the debate over the power and influence of big tech companies, particularly in the EU, where regulators are increasingly taking a tough stance on antitrust and competition issues. This latest development could also have wider implications for other tech giants operating in Europe, as regulators continue to clamp down on anti-competitive practices in the digital market.